Question

A new law requires that 15% of an individual’s income be invested in the stock market. your accounts show that you need to put $435 in the stock market this year. how much did you earn this year?

Answer 1

This can be solve using the formula:

S = rE

Where S is the amount you need to put in the stock market

r is the percentage you need to put

E is the yearly earnings

 

S = rE

432 = 0.15E

E = $ 2900