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Percentage Problem

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Percentage Problem

by raunakrajan » Tue Jun 29, 2010 11:48 pm
An audit determined that, between 1998 and 1999, a certain business increased the amount it spent on health insurance by 30 percent. Over the same period, the business reduced employee bonuses by 45 percent. If the business spent $8,700 on health insurance and $3,000 on bonuses in 1998, how much did they spend health insurance and employee benefits combined in 1999?


[spoiler]$12960[/spoiler]
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by albatross86 » Tue Jun 29, 2010 11:57 pm
First, assign variables to make the problem easier.

1998: H1, B1 ; 1999: H2, B2 (H-health insurance, B-employee bonuses)

General formula:
When A is increased by x%, it's new value is (100+x)/100 * A and if it is decreased by y% its new value is (100-y)/100 * A

H2 = 1.3*H1

B2 = 0.55*B1

We have H1 = 8700; B1 = 3000

So what is H2 + B2

=1.3*8700 + 0.55*3000

= 11310 + 1650

= 12960$
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by amising6 » Tue Jun 29, 2010 11:59 pm
raunakrajan wrote:An audit determined that, between 1998 and 1999, a certain business increased the amount it spent on health insurance by 30 percent. Over the same period, the business reduced employee bonuses by 45 percent. If the business spent $8,700 on health insurance and $3,000 on bonuses in 1998, how much did they spend health insurance and employee benefits combined in 1999?


[spoiler]$12960[/spoiler]
1998 1999
health x 1.3x

cash 8700 11310(1.3*8700)

bonus y 0.55y
cash 3000 1650

so toatl 12960
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