Question

If a stadium pays $11000 for labor and $7000 for parking what would the stadiums parking revenue be if the stadium is hoping parking labor is 6% of parking revenue

Answer 1

Answer:

$300,000

Step-by-step explanation:

Labor  cost = $11,000

Parking  cost= $7,000

Parking Labor cost = $ 18,000

Parking Revenue = ?

From the question, parking labor cost is 6% of Parking revenue.

6% =   Parking Labor cost/ Parking Revenue------------------------------------ (1)

Further substituting in (1) gives:

6/100  =  18,000/ Parking Revenue

Making Parking Revenue the subject of the formula, we have:

Parking Revenue = (100 x 18,000)/6

                             = $300,000