Question

this year, a small business had a total revenue of $66,700. if this is 15% more than their total revenue the previous year, what was their total revenue the previous year?

Explanation:

Step1: Define previous year's revenue

Let $x$ = previous year's revenue.

Step2: Set up revenue equation

This year's revenue = 115% of $x$, so:
$$66700 = 1.15x$$

Step3: Solve for $x$

Divide both sides by 1.15:
$$x = \frac{66700}{1.15}$$

Step4: Calculate the value

$$x = 58000$$

Answer:

$\$58000$