Questions: This year, a small business had a total revenue of 48,300. If this is 38% more than their total revenue the previous year, what was their total revenue the previous year? square square

This year, a small business had a total revenue of 48,300. If this is 38% more than their total revenue the previous year, what was their total revenue the previous year?
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Transcript text: This year, a small business had a total revenue of $\$ 48,300$. If this is $38 \%$ more than their total revenue the previous year, what was their total revenue the previous year? $\$ \square$ $\square$
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Solution

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Solution Steps

Step 1: Set Up the Equation

Let \( R \) be the total revenue from the previous year. According to the problem, the current year's revenue is \( 38\% \) more than the previous year's revenue. This can be expressed mathematically as: \[ 48300 = R + 0.38R = 1.38R \]

Step 2: Solve for Previous Year's Revenue

To find \( R \), we rearrange the equation: \[ R = \frac{48300}{1.38} \]

Step 3: Calculate the Value

Calculating the value gives: \[ R \approx 35000.0 \]

Final Answer

The total revenue from the previous year is \\(\boxed{35000}\\).

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