SOLUTION: In 2007, Jim earned $45,900, an increase of 17.5% over the previous year. What were Jim's earnings in 2006? Round to the nerest cent. Thanks!

Question 109107: In 2007, Jim earned $45,900, an increase of 17.5% over the previous year. What were Jim's earnings in 2006? Round to the nerest cent.

Thanks!
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
In 2007, Jim earned $45,900, an increase of 17.5% over the previous year. What were Jim's earnings in 2006? Round to the nerest cent.
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Let Jim's earnings in 2006 be "x".
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EQUATION:
x + 0.175x = 45,900
1.175x = 45,900
x = $42697.67 (salary in 2006)
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Cheers,
Stan H.
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