Revenue Ratio Calculation
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1. The ratio of revenue of new car sales to used car sales at the car lot is $3 : 5$. If the total revenue of car sales was $287,400$ last month, what was the total revenue of the used car sales?
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Step by Step Written Solution
Let's work through this problem together. We are given the ratio of new car sales revenue to used car sales revenue as three to five, and we know the total revenue is two hundred eighty-seven thousand, four hundred dollars.
Setting Up the Problem
Let new car revenue be three times x, and used car revenue be five times x. This means the total revenue is the sum of these two parts.
Combining these terms gives us eight x equals two hundred eighty-seven thousand, four hundred.
Now, let's solve for x by dividing the total revenue by eight.
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