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grigory [225]
4 years ago
7

A bank efficiency ratio is the ratio of a bank's expenses to its revenue, expressed as a percentage. If a bank has \$222$222doll

ar sign, 222 million dollars in expenses and an efficiency ratio of 75\%75%75, percent, what is its revenue in millions of dollars?
Business
1 answer:
Ann [662]4 years ago
7 0

Answer:

$296 million

Explanation:

Data provided in the question:

Expenses of the bank = $222 million

Efficiency ratio of the bank = 75%

Now,

The Efficiency ratio is given using the formula as:

Efficiency ratio = \frac{\textup{Expenses}}{\textup{Revenue}}

thus,

Revenue = \frac{\textup{Expenses}}{\textup{Efficiency ratio}}

on substituting the respective values, we get

Revenue = \frac{\$\textup{222 million}}{\textup{75}\%}

or

Revenue = \frac{\$\textup{222 million}}{\textup{0.75}}

or

Revenue = $296 million

Hence, the revenue for the bank is $296 million

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3 years ago
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34kurt

Answer:

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