Question

Felix’s Feed Mill sells chicken feed for $8.00 per bag. This price is no longer high enough to create a profit. Felix decides to raise the price. He is considering four different plans.

Plan A: Raise the price by $0.10 each week until the price reaches $12.00.

Plan B: Raise the price by 10 percent each week until the price reaches $12.00.

Plan C: Raise the price by the same amount each week for 8 weeks, so that in the eighth week the price is $12.00.

Plan D: Raise the price by $0.25 each week until the price reaches $12.00.

Which plan will result in the price of the feed reaching $12.00 fastest?
-plan A
-plan B
-plan C
-plan D

Answer 1

Answer: ANSWER IS [B]

Explanation:

Answer 2

Answer: B is the fastest way

Step-by-step explanation: How to solve this is a bit hard

8*1.1^n =12, so : ln(8) +n*ln(1.1) = ln(12), then

n = (ln(12) - ln(8))/ln(1.1) (≈ means around)4.3 weeks.