Question

26. The Acme Company offers a gas range for $63 cash or for $5 down and 10 monthly payments of $6.50 each. The monthly installment price is what percent GREATER than the one-time cash price? (Find answer to the nearest whole percent.) (A) 7% (B) 9% (C) 10% (D) 11%​

Answer 1

11%

Explanation:

Lets find the new price with the monthly installment.

5+6.50(10)=70

Now the percentage of increase.

Find difference

70-63=7

Divide by original

7/63=0.11

Multiply by 100

0.11*100=11.1

Rounds to approximately 11%