(1) Company K's earnings were $12 million last year. If this year's earnings were projected to be 150 percent greater than last year's earnings, what are company K's projected earnings this year?
(2) Last year, Carlos saved 10% of this annual earnings. This year he earned 5 percent more than last year and he saved 12 percent of his annual earnings. This amount saved this year was what percent of the amount saved last year?
Both are OG questions. I am having trouble understanding the difference between the highlighted portions. It is simple but can someone please explain. I am not understanding why the approach to the first question is 1 + 1.5($12 million) while the second one is just 0.05(earnings last year).
Thank you.
(2) Last year, Carlos saved 10% of this annual earnings. This year he earned 5 percent more than last year and he saved 12 percent of his annual earnings. This amount saved this year was what percent of the amount saved last year?
Both are OG questions. I am having trouble understanding the difference between the highlighted portions. It is simple but can someone please explain. I am not understanding why the approach to the first question is 1 + 1.5($12 million) while the second one is just 0.05(earnings last year).
Thank you.