An outlet store had monthly sales of $73,000 and spent 8% of it on health insurance. How much was spent on health insurance?

Question

An outlet store had monthly sales of $73,000 and spent 8% of it on health insurance.
How much was spent on health insurance?

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Vodka 7 months 2021-08-17T11:11:37+00:00 2 Answers 0 views 0

Answers ( )

    0
    2021-08-17T11:13:19+00:00

    $5,840 was spent on health insurance

    0
    2021-08-17T11:13:34+00:00

    1. We assume, that the number 73000 is 100% – because it’s the output value of the task.

    2. We assume, that x is the value we are looking for.

    3. If 73000 is 100%, so we can write it down as 73000=100%.

    4. We know, that x is 8% of the output value, so we can write it down as x=8%.

    5. Now we have two simple equations:

    1) 73000=100%

    2) x=8%

    where left sides of both of them have the same units, and both right sides have the same units, so we can do something like that:

    73000/x=100%/8%

    6. Now we just have to solve the simple equation, and we will get the solution we are looking for.


    7. Solution for what is 8% of 73000


    73000/x=100/8

    (73000/x)*x=(100/8)*x       – we multiply both sides of the equation by x

    73000=12.5*x       – we divide both sides of the equation by (12.5) to get x

    73000/12.5=x

    5840=x

    x=5840


    now we have:

    8% of 73000=5840


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