SOLUTION: A bottled iced tea manufacturer saw profits increase 65% last year. This year, due to so much competition, profits fell 40%. Profits this year were 17,820,000. What was the real

Question 1031035: A bottled iced tea manufacturer saw profits increase 65% last year. This year, due to so much competition, profits fell 40%. Profits this year were 17,820,000. What was the realized profit for the iced tea company 2 years ago?
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
If profits fell from last year, and you made 17,820,000; that represents 60% of what you made last year;or,
17,820,000/.6=29,700,000 profits from the year before. Before that, profits were up 65%, so
1.65x=29,700,000
x=29,700,000/1.65=18,000,000 profits two years ago!!!!!!!!
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