A company makes a profit of $1.38 million. This is $2.54 million more than last year. Write and solve an equation to find the profit p (in millions of dollars) last year. An equation is =1.38.

Required equation : 1.38 = p +2.54

Last year profit = $ -1.16 million or we can say loss =$ 1.15 million

Step-by-step explanation:

Given :  A company makes a profit of $1.38 million. This is $2.54 million more than last year.

Profit this year = 2.54 + Profit in last year

Let p = profit (in millions of dollars) last year.

Then, 1.38 = p +2.54   , is the required equation.

⇒ p = 1.38-2.54

⇒ p= -1.16, which is loss because of negative sign.

Hence, last year profit = $ -1.16 million or we can say loss =$ 1.15 million

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step-by-step explanation: