[SPLIT] Find previous inventory, given current amt, % drop

christinaC15

New member
fuel inventories were lower than last year according to san francisco chronicle dated feburary 24, 2007. This year there are 31.7 million barrels of inventory, a 7.32 percent drop. (a) what was the amount of inventory last year to the nearest tenth? (b) What was the amount of the decrease?

stapel

Super Moderator
Staff member
christinaC15 said:
fuel inventories were lower than last year according to san francisco chronicle dated feburary 24, 2007. This year there are 31.7 million barrels of inventory, a 7.32 percent drop. (a) what was the amount of inventory last year to the nearest tenth? (b) What was the amount of the decrease?
If there was a 7.32% decrease from the previous amount, then the current amount is 92.68% of the previous amount. So translate this English sentence:

. . . . .(current amount) is (92.68%) of (previous amount)

...into a mathematical equation. Plug in the given value for the current amount, and solve for the previous amount. The difference between the two amounts is the amount of the decrease.