SOLUTION: This year Mr. Markel is getting paid $216,000 to teach two algebra classes. This is 8% more than he was paid last year. What was he paid last year?

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Question 171596: This year Mr. Markel is getting paid $216,000 to teach two algebra classes. This is 8% more than he was paid last year. What was he paid last year?
Answer by nerdybill(7384) About Me  (Show Source):
You can put this solution on YOUR website!
This year Mr. Markel is getting paid $216,000 to teach two algebra classes. This is 8% more than he was paid last year. What was he paid last year?
.
Wow, Mr. Markel is making a LOT teaching!
.
Let x = amount he was paid last year
then because he is making 8% more this year:
x + .08x = 216000
x(1+.08) = 216000
x(1.08) = 216000
x = 216000/1.08
x = $200,000