SOLUTION: A local Burger King budgets 1/8 of its monthly profits on salaries. Salaries for the month were $12,000. What were Burger King�s monthly profits? I think I have the correct answ

Question 566740: A local Burger King budgets 1/8 of its monthly profits on salaries. Salaries for the month were $12,000. What were Burger King�s monthly profits?
I think I have the correct answer; I came up with $96,000. I would like to know the exact formula to use rather than multiplying and dividing random numbers that come to mind.
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
"1/8 of its monthly profits on salaries" ___ (1/8)p = s

"Salaries for the month were $12,000" ___ s = 12000

substituting ___ (1/8)p = 12000 ___ p = 96000
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