Question

A new car costs $29,750, which i Price Inflation approximately 115% of what a comparable car cost 3 years ago. What did the car cost 3 years ago?

Answer 1

The cost of the car 3 years ago was approximately $13837

Step-by-step explanation

Suppose, the cost of the car was
`x` dollar 3 years ago.

As the price inflation is approximately 115% now, so the amount of increased price
`= x* 115\% = x*(115)/(100)=1.15x` dollar.

So, the cost of the new car in term of x will be:
`(x+1.15x)=2.15x` dollar

Given that, a new car costs $29,750. So, the equation will be .......

`2.15x= 29750\\ \\ x=(29750)/(2.15)=13837.209.... \approx 13837`

So, the cost of the car 3 years ago was approximately $13837