Question

The price of gold has increased by 35% per year from 2000. In the year 2000, Harry bought a gold ring for $590. Which of the following equations can be used to represent the price of the ring x years after 2000?

y = 590(1.35)x
y = 590(0.65)x
y = 35(0.41)x
y = 35(1.59)x

Answer 1

y = 590(1.35)x

good luck

Answer 2

Option first is correct.

Step-by-step explanation:

Here cost of gold ring in 2000 was = $590

Each year increase = 35%

in decimals = 0.35

therefore cost after increase will be 1+0.35 = 1.35 of initial that is

after 2 years =
`590(1.35)^2`

likewise after 3 years =
`590(1.35)^3`

Similarly after x years it will be =
`590(1.35)^x`

Option 1 is correct!