Question

The price of a flight was increased by 3% to £650. What was the price before the increase? Give your answer to the nearest penny.

Answer 1

£631.07

Explanation:

Answer 2

£631.07

Explanation:

Increasing a value by 3% is the same as taking 103% of it - you have the original price (100%) plus an additional 3% of it. Let's call the original price here p. We're told that after a 3% increase, the price goes up to £650. Put another way: 103% of p is £650. In equation form:

`1.03p=650`

To solve for p, we can simply divide both sides of our equation by 1.03 to get

`p=650/1.03\approx631.07`

So our orignal amount, to the nearest penny, was £631.07