Question

A new law requires that 15% of an individuals 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 learn this year?

Answer 1

Answer:

This year's earnings were $2900

Step-by-step explanation:

Percentage calculation

If a number N is given and we need to calculate X percent of it, it's given by

$\displaystyle P=N\frac{X}{100}$

But what happens if we already know P and want to compute N? We simply solve for N

$\displaystyle N=P\frac{100}{x}$

The question tells us we need to put $435 in the stock market this year, and it's 15% of the yearly income. We have P=435, X=15, let's compute N

$\displaystyle N=435\frac{100}{15}$

$\boxed{N=\ 2900}$

This year's earnings were $2900