SOLUTION: Due to increased mailing costs, the new rate will cost publishers $60 million; this is 13.5% 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 $60 million; this is 13.5% more than they paid the previous year. How much did it cost publishers last year?      Log On


   

Question 797046: Due to increased mailing costs, the new rate will cost publishers $60 million; this is 13.5% 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 $60 million; this is 13.5% 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".
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Equation:
x + 0.135x = 60 million
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1.135x = 60 mill
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x = 52.86 million
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Cheers,
Stan H.
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