SOLUTION: Due to increased mailing costs, the new rate will cost publishers $50 million; this is 12.5% more than they paid the previous year. How much did it cost publishers last year?

Question 707466: Due to increased mailing costs, the new rate will cost publishers $50 million; this is 12.5% more than they paid the previous year. How much did it cost publishers last year?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Due to increased mailing costs, the new rate will cost publishers $50 million; this is 12.5% more than they paid the previous year. How much did it cost publishers last year?
----
Let last year's cost be "x":
Equation:
x + 0.125x = 50 million
---
(1.125)x = 50 million
------
x = (50 million)/1.125) = 44.444.. million
================================
Cheers,
Stan H.
RELATED QUESTIONS
Due to increased mailing costs, the new rate will cost publishers $50 million; this is... (answered by rfer)

Due to increased mailing costs, the new rate will cost publishers $60 million; this is... (answered by stanbon)

Due to increased mailing costs, the new rate will cost publishers $22 million; this is... (answered by ewatrrr)

What are the steps in solving the following type of word problems?: Due to increased... (answered by josmiceli)

Due to increased mailing costs, the new rate will cost publishers $22 million; this is... (answered by ikleyn)

Due to increased mailing costs, the new rate will cost publishers $49 million; this is... (answered by josgarithmetic)

A company is considering implementing an investment opportunity in Dodoma. To identify... (answered by ikleyn)

Q1. You deposit $3,000 in a savings account that earn 9% simple interest per year. How... (answered by ikleyn)