Difficult Retail Math Equation?

Question

I have to complete this math problem that is extremely difficult and i cant seem to get it right the question is:

A Store with net sales of $3,500,000 has estimated its shrtage to be 2%. The actual shortage is $72,000.
A) Is the Shortage percentage higher or lower than what was estimated?
B) What is the dollar difference between the estimated and the actual shortage?

HELP PLEASEEEE

Answer 1

2/100 x $3,500,000 = $70,000

a) Shortage is higher than estimated

$72,000 - $70,000 = $2,000

b) Dollar difference = $2,000

Now go and tell your teacher that you had trouble with this, so that your teacher can explain it to you, then you will be able to answer similar questions yourself on a test.

Answer 2

First calculate how much % of 3,500,000 is $72,000

Let that number be X.

So X% * 3,500,000 = 72000
=> X/100 * 3500000 = 72000
=> 35000X = 72000
=> X = 72/35 = 2.057% (Approximately)

Now acc to question the estimated shortage % is 2.

So answer to first part is:
A. Shortage % is higher than what was estimated (as 2.057 is greater than 2)

B. Estimated dollar shortage = 2% * 3500000 = 70000
Actual shortage according to the question is 72,000

So dollar difference is 72,000 - 70,000 = $2000

Answer 3

I agree with graham s, go tell your teacher you had problems with this, using yahoo answers to do your homework late at night isn't a good study habit, however helpful it may be...


----estimated shortage is 2%
.02 x 3,500,000 = 70,000

if you find this difficult, you might want to look at it as fractions and have
2 / 100 = x / 3,500,000
then cross-multiply and divide to find x.

so, 2% of $3,500,000 is $70,000 (estimated shortage)

----actual shortage is $72,000
72,000 / 3,500,000 = .02057

which is about 2.06% (actual shortage)


estimate shortage--
2% or $70,000
actual shortage--
2.06% or $72,000



ANSWER
A) higher
B) $2,000

Answer 4

A. The shortage is higher, since 2 percent of 3,500,000 is 70,000, and 72,000 is greater than 70,000.

B. 2,000, since 72,000-70,000=2,000

Answer 5

Retail Math Equations

Answer 6

The opposite of b plus or minus the square root of b squared minus 4ac all over 2a? It's not hard. It's just a bit time-consuming. I use it only if the equation can't be factored any other way. It's a last resort, for me.