1. The problem is to find the value of $r$ in the equation $350r = 367.50$. 2. We start with the equation: $$350r = 367.50$$ 3. To isolate $r$, divide both sides of the equation by 350: $$r = \frac{367.50}{350}$$ 4. Show the cancellation step: $$r = \frac{\cancel{350} \times r}{\cancel{350}} = \frac{367.50}{350}$$ 5. Now, perform the division: $$r = 1.05$$ 6. This means $r$ is 1.05, which matches the calculation $350 + 17.50 = 367.50$ where $17.50$ is 5% of 350, so $r = 1 + 0.05 = 1.05$. Final answer: $$r = 1.05$$