Question

Robert wants to buy an oven that costs 1000$ including taxes. , to pay for the oven, he will use a payment plan. He makes a down payment of $250, and then pays $150 per month for 6 months. What is the percent increase from the original cost of the oven to the cost of the oven using the payment plan?

Answer 1

15% increase

Explanation:

If Robert uses the payment plan then he will pay"

Down Payment - $250

6 months of 150 - 6*$150 = 900

In total he pays $1150.

To find the percent increase/decrease:

1. Subtract the original value from the new value.

2. Divide by the original value.

3. Multiply the decimal by 100 to convert to a percent.

1150 - 1000 = 150

150/1000 = 0.15

0.15*100 = 15%