Suppose a certain item increased in price by 18% a total of 5 times and then decreased in price by 10% a total of 2 times. by what overall percent did the price increase?

przesypkai4 2022-07-26 Answered
Suppose a certain item increased in price by 18% a total of 5 times and then decreased in price by 10% a total of 2 times. By what overall percent did the price increase?
You can still ask an expert for help

Expert Community at Your Service

  • Live experts 24/7
  • Questions are typically answered in as fast as 30 minutes
  • Personalized clear answers
Learn more

Solve your problem for the price of one coffee

  • Available 24/7
  • Math expert for every subject
  • Pay only if we can solve it
Ask Question

Answers (1)

abortargy
Answered 2022-07-27 Author has 19 answers
Step 1
Let, initial price of the item was $x
Now, we have the formulae A = p ( 1 + p ) t ( 1 )
P = Initial price
A = Amount after t times
p = Rate of charge
Now, when the price of the item increased by 18% a total of 5 times. Then
p = $ x , p = 0.18 , t = 5
From (1) Amount = A 1 = $ x ( 1 + 0.18 ) 5 = $ ( 1.18 ) x 5
Step 2
When the price is decreased by 10% a total of 2 times then
p $ ( 1.18 ) 5 x , p = 0.10 ( d e c r e a s e ) , t = 2
From (1), Amount = A 2 = $ ( 1.18 ) x 5 ( 1 0.10 ) 2 = $ ( 1.18 ) 5 x ( 0.9 ) 2 = $ 1.8531 x
Overall charge in percentage
= A 2 p p × 100 % = 1.8531 x x × 100 % = 0.8531 x x × 100 % = 85.31 %
Answer: Overall price increased 85.31%
Did you like this example?
Subscribe for all access

Expert Community at Your Service

  • Live experts 24/7
  • Questions are typically answered in as fast as 30 minutes
  • Personalized clear answers
Learn more

New questions