SOLUTION: Fuel inventories were lower than last year according to the San Francisco Chronicle dated February 24, 2007. This year there are 38.6 million barrels of inventory, a 9.72 percent d

Algebra ->  Finance -> SOLUTION: Fuel inventories were lower than last year according to the San Francisco Chronicle dated February 24, 2007. This year there are 38.6 million barrels of inventory, a 9.72 percent d      Log On


   

Question 193016This question is from textbook Practical Business Math Procedures
: Fuel inventories were lower than last year according to the San Francisco Chronicle dated February 24, 2007. This year there are 38.6 million barrels of inventory, a 9.72 percent drop.

(a) What was the amount of inventory last year to nearest tenth?
_____million
(b) What was the amount of the decrease?
_____million This question is from textbook Practical Business Math Procedures

Answer by Mathtut(3670) About Me  (Show Source):
You can put this solution on YOUR website!
let x be the amount of inventory last year
:
x-.0972x=38.6 million
:
.9028x=38.6
:
x=42.76 or 42.8 million to the nearest tenth
:
the decrease is 42.8-38.6=4.2 million