Question

Due to a slump in the economy a mutual fund has dropped by 30% from last year to this year. If the fund is now worth $13,902, how much was the fund last year?

Answer 1

Answer: The Fund last year was 19,860

Explanation:

Just set up a ratio using 70 over 13902 and set it equal to 100 over x and cross multiply to get x = 19,860