Toms business revenue increased by 15% last year. If this years revenue is $80,000 what was the revenue last year approximately?

A.$68,565
B.$69,565
C.$69,900
D.$70,900

1 answer

To find last year's revenue before the 15% increase, we can use the formula for percentage increase:

If this year's revenue is \( R \) and it increased by \( p% \), then the last year's revenue \( L \) can be calculated using the following relationship:

\[ R = L \times (1 + \frac{p}{100}) \]

Here, \( R = 80,000 \) and \( p = 15 \).

Rearranging the formula to solve for \( L \):

\[ L = \frac{R}{1 + \frac{p}{100}} \]

Substituting in the values:

\[ L = \frac{80,000}{1 + \frac{15}{100}} = \frac{80,000}{1.15} \]

Now we calculate \( L \):

\[ L \approx \frac{80,000}{1.15} \approx 69,565.22 \]

Rounding to the nearest dollar gives us approximately $69,565.

Thus, the answer is \( \boxed{B} \).