Solve. Round the answer to the nearest cent, if necessary.
-Last year the profit for a company was $351,000. This year's profit decreased by 8.3%. Find this year's profit.

Question

Quizplus · Accepted Answer

To find this year's profit, we need to subtract 8.3% of last year's profit from last year's profit.

8.3% of $351,000 can be found by multiplying 0.083 by 351,000, which gives $29,133.

Subtracting $29,133 from $351,000 gives $321,867.

Therefore, this year's profit is $321,867.

Rounding to the nearest cent is not necessary, as the question only asks for the answer to the nearest dollar.

Thus, the best choice is C, $321,867, as it is the only answer that is correct. To find this year's profit, we need to first find the amount of the decrease in profit from last year.

Decrease = 8.3% of $351,000 
Decrease = 0.083 x $351,000 
Decrease = $29,133

To find this year's profit, we need to subtract the decrease from last year's profit:

This year's profit = Last year's profit - Decrease 
This year's profit = $351,000 - $29,133 
This year's profit = $321,867

Rounding this to the nearest cent, we get $321,867. Therefore, the best choice is C).

Solve Round the Answer to the Nearest Cent, If Necessary