Question

Recently a bookstore announced that all their books would increase in price by 5%. How much will a book cost if it’s original price was $21.50. Round to the nearest cent.

Answer 1

An increase in price by 5% means the books will now be sold at 105% the original price. Therefore, if originally a book cost $21.50, its price now will be

`(105)/(100)*21.50`
`=22.575.`

Rounded to the nearest cent, this is $22.58.