Yuan receives money from his relatives every year on his birthday. This year, Yuan received a total of $56. That is 12% more than he received last year. How much did Yuan received last year?

Answer:Yuan received $50 last year

Step-by-step explanation:

Yuan receives money from his relatives every year on his birthday.

Let x represent the amount of money that Yuan received last year on his birthday.

This year, Yuan received a total of $56. The amount that he received this year is 12% more than he received last year. This means that

the increment on the amount that he received last year is would be

12/100*x = 0.12x. Therefore,

x + 0.12x = 56

1.12x = 56

x = 56/1.12 = $50