Answer:
The rate of return is 14%
Step-by-step explanation:
The rate of return can be determined by,
RR = x 100%
where:
RR is the rate of return
is the final amount = $690 - $6 = $684
is the initial amount = $15 x 40 = $ 600
So that,
RR = x 100%
= 0.14 x 100%
= 14%
Therefore, the rate of return is 14%.
Answer:
The equation to find the profit made by business combined is .
Business A made $2 million profit and Business B made $8 million profit.
Step-by-step explanation:
Given:
Profit made in previous financial year = $10 million
We need to write an equation to find the profit made by the business.
Solution:
Let the profit (in millions) made by business A be 'x'.
Let the profit (in millions) made by business B be 'y'.
Now given:
business B making 4 times as much profit as business A.
so we can say that;
Now we know that;
Profit made in previous financial year is equal to sum of profit (in millions) made by business A and profit (in millions) made by business B.
framing in equation form we get;
Substituting the value of y in above equation we get;
Hence The equation to find the profit made by business combined is .
On Solving above equation we get;
profit (in millions) made by business A =
profit (in millions) made by business B =
Hence Business A made $2 million profit and Business B made $8 million profit.