Find 2.5% annual simple interest on $500.
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Given :
High Construction Company distributed 8% of its total profit, an amount equal to $5500 in bonus this year.
To Find :
The total profit .
Solution :
Let , total profit be x .
It is given that 8 % of the total profit is equal to $5500 .
So ,
Therefore , total profit is $68750 .
Hence , this is the required solution .