SOLUTION: What are the steps in solving the following type of word problems?: Due to increased mailing costs, the new rate will cost publishers $50 million; this is 12.5% more than they p

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: What are the steps in solving the following type of word problems?: Due to increased mailing costs, the new rate will cost publishers $50 million; this is 12.5% more than they p      Log On


   



Question 273147: What are the steps in solving the following type of word problems?:
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? {Nearest hundredths}
drcarter@richland.edu
Thank you

Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
Let x = what they paid the previous year in millions
given:
The difference between 50 million and what they paid
the previous year is:
.125x
---------------
The next step is to write this as an equation:
50+-+x+=+.125x
50+=+x+%2B+.125x
x%2A%281+%2B+.125%29+=+50
x+=+50%2F1.125
x+=+44.444444 million