A software company in Bluepoint currently bills clients $297 per hour for work done by its consultants. That is 1% less than the company used to charge before adjusting its rates. What was the previous hourly billing rate?$____
Q. A software company in Bluepoint currently bills clients $297 per hour for work done by its consultants. That is 1% less than the company used to charge before adjusting its rates. What was the previous hourly billing rate?$____
Calculate Expression: Step 1: Let p be the previous hourly rate.Calculate the expression for 1% less than the previous rate.Expression for current rate: p−1%(p)=p−0.01p
Set Up Equation: Step 2: We know the current rate is $297. Set up an equation to find p, the previous rate. Equation for current rate is 297=p−0.01p.
Solve for p: Step 3: Solve for p.p−0.01p=297p(1−0.01)=2970.99p=297p=0.99297p=300
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