help me please

Question

the actual expenditure for the construction of a local highway was 110% of the budgeted amount. if the actual expenditure was $1,280,000. what is the budgeted amount

Answer 1

Hi Kayla,

 

One approach you can take to answer this question is to set up a proportion equation.  If we know that 110% = $1,280,000 and we want to know what 100% is, we can use the following setup:

 

110                1,280,000

-------    =   ----------------

100                      x

 

Where x is now the budgeted amount for the construction of the local highway.

 

Cross-multiply so that 110 times x = 100 times 1,280,000.  Then divide both sides by 110 to solve for x.

 

x = 1,163,636.36

 

Does this make sense?

 

RoseMarie D.