Answer :
Let x represent the worth of the mutual fund last year. We were told that it dropped by 30%
Recall, percentage is expressed in terms of 100. Thus, the amount by which it dropped is
30/100 * x = 0.3x
if the fund is now worth $12,593, it means that
x - 0.3x = 12593
0.7x = 12593
x = 12593/0.7
x = 17990
The worth of the fund last year was $17990