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A company's profit increased by 50% this year. If last year's profit was $10,000

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Question: A company\'s profit increased by 50% this year. If last year\'s profit was $10,000, what is this year\'s profit?

Options:

  1. $15,000
  2. $12,000
  3. $14,000
  4. $16,000

Correct Answer: $15,000

Solution: 

This Year\'s Profit = Last Year\'s Profit + (50% of Last Year\'s Profit) = 10000 + (0.5 * 10000) = 10000 + 5000 = $15,000.

A company's profit increased by 50% this year. If last year's profit was $10,000

Practice Questions

Q1
A company's profit increased by 50% this year. If last year's profit was $10,000, what is this year's profit?
  1. $15,000
  2. $12,000
  3. $14,000
  4. $16,000

Questions & Step-by-Step Solutions

A company's profit increased by 50% this year. If last year's profit was $10,000, what is this year's profit?
  • Step 1: Identify last year's profit, which is $10,000.
  • Step 2: Calculate 50% of last year's profit. To do this, multiply $10,000 by 0.5 (which is the decimal form of 50%).
  • Step 3: Perform the multiplication: 0.5 * 10000 = $5,000.
  • Step 4: Add the result from Step 3 to last year's profit. So, $10,000 + $5,000 = $15,000.
  • Step 5: Conclude that this year's profit is $15,000.
  • Percentage Increase – Understanding how to calculate a percentage increase based on a previous value.
  • Basic Arithmetic – Applying addition and multiplication to derive the final profit value.
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