Answer:
$690,200
Step-by-step explanation:
- This year's deficit = $476,238
- The deficit is 31% less than last year
Assuming that last year's budget deficit was 100%
This year's deficit = 100 - 31 = 69%
If 69% = 476238
Then 100% = ?
Then x = ?
Cross-multiplying gives;
[tex]\frac{100 * 476238}{69} = 690200[/tex]
∴ Last years deficit was; $690,200
