SOLUTION: Can someone please help me with this problem: The Fairland Restaurant chain had a 12% return on a $60,000 investment in new ovens. The investment resulted in increased sales and

Algebra ->  Finance -> SOLUTION: Can someone please help me with this problem: The Fairland Restaurant chain had a 12% return on a $60,000 investment in new ovens. The investment resulted in increased sales and      Log On


   

Question 174487: Can someone please help me with this problem:
The Fairland Restaurant chain had a 12% return on a $60,000 investment in new ovens. The investment resulted in increased sales and an increase in income that was 4% of the increase in sales. The increase in sales was:
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
.12*60,000=$7,200 IS THE TOTAL RETURN ON INVESTMENT.
SALES +.04SALES=7,200
1.04SALES=7,200
SALES=7,200/1.04
SALES=$=6,923.08 WAS THE INCREASE IN SALES.
.04*6,923.08=276.92 INCREASE IN INCOME.
PROOF:
6,923.08+276.92=$7,200