Question

Barry’s Bagel Emporium sells a dozen bagels for $5.00. This price is no longer high enough to create a profit. The owner decides to raise the price. He does not want to alarm his customers with too large of an increase. He is considering four different plans. Plan A: Raise the price by $0.05 each week until the price reaches $8.00. Plan B: Raise the price by 10 percent each week until the price reaches $8.00. Plan C: Raise the price by the same amount each week for 6 weeks, so that in the sixth week the price is $8.00. Plan D: Raise the price by $0.25 each week until the price reaches $8.00. Which plan will result in the price of the bagels reaching $8.00 fastest? plan A plan B plan C

Answer 1

Plan C. He already has $5, so to get to $8 it needs to be raised $3. In Plan C, he wants to raise it the same amount for 6 weeks. $3.00 / 6 = .50... 6 weeks would give him the fastest Plan out of all the Plans.... Making your answer Plan C

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Correct If I'm Wrong

Answer 2

Plan B is correct answer.

Explanation:

Raise the price by 10 percent each week until the price reaches $8.00.

Week 1. Starting price $5

`0.1*5=0.5`

price becomes =
`5+0.5=5.5`

Week 2.

`0.1*5.5=0.55`

Price becomes =
`5.5+0.55=6.05`

Week 3.

`0.1*6.05=0.605`

Price become =
`6.05+0.605=6.655`

Week 4.

`0.1*6.655=0.6655`

Price becomes =
`6.655+0.6655=7.320`

Week 5.

`0.1*7.320=0.732`

Price becomes =
`7.320+0.732=8.052`

So, we can see that in 5 weeks the price becomes $8 from $5. Therefore, plan B is the best plan.