SOLUTION: 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?

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: 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?      Log On


   

Question 707466: 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?
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
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?
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Let last year's cost be "x":
Equation:
x + 0.125x = 50 million
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(1.125)x = 50 million
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x = (50 million)/1.125) = 44.444.. million
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Cheers,
Stan H.