Question

Felix’s Feed Mill sells chicken feed for $8.00 per bag. This price is no longer high enough to create a profit. Felix decides to raise the price. He is considering four different plans. Plan A: Raise the price by $0.10 each week until the price reaches $12.00. Plan B: Raise the price by 10 percent each week until the price reaches $12.00. Plan C: Raise the price by the same amount each week for 8 weeks, so that in the eighth week the price is $12.00. Plan D: Raise the price by $0.25 each week until the price reaches $12.00. Which plan will result in the price of the feed reaching $12.00 fastest?

Answer 1

i say the answer is plan D for the price raise

Answer 2

Choice B would reach 12 dollars the fastest because if you increase 8 by 10% that's 8.80 for week one. Then 10% again is 9.68. 10% again is about $ 10.45. 10% again is about $11.50. Finally another 10% increase is about $12.64. So in total that would be 5 weeks. Plan A would take 40 weeks. Plan C is 8 weeks and plan D is 16 weeks.