The sales last year of the company is 5617
How to determine the sales last year?
The given parameters are:
Company sales = 6740
Percentage increase = 20%
The sales of the company last year (x) to date is calculated as:
Company sales = (1 + Proportion) * Last year sales
Substitute the known values in the above equation
6740 = (1 + 20%) * x
Evaluate the sum
6740 = 1.2 * x
Divide both sides by 1.2
x = 5617
Hence, the sales last year is 5617
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