Answer:
Given
- Initial price = $6.5
- First increase = 10%
- Second increase = 30%
Solution
Price after first increase:
- 6.5 + 10% =
- 6.5 + 6.5*10/100 =
- 6.5*(1 + 0.1) =
- 6.5*1.1 =
- 7.15
Price after second increase:
- 7.15 + 30% =
- 7.15 + 7.15*30/100 =
- 7.15(1 + 0.3) =
- 7.15*1.03 =
- 9.30 (rounded to the nearest cent)
The two steps above can be combined as: