Question

Am collects baseball cards. When Sam bought his most prized baseball card, it had a value of b dollars. Sam recently learned that the value of this baseball card has increased in value. The current value of she baseball card can now be written as the following equation

b+0.62b=2.48

Sam claims that the value of his baseball card has increased in value by 248%, because 2.48=240% Decide if Sam is correct. If Sam is correct, enter 2481 below. If Sam is not correct, enter the correct percent increase of the baseball card ___%

Answer 1

Sam is incorrect; the correct percent increase of the baseball card's value is actually 62%, not 248%, as the current value is 1.62 times the original value.

Step-by-step explanation:

Sam is not correct in claiming that the value of his baseball card has increased by 248%. To calculate the percent increase, we need to find out by what percentage the original value (b dollars) increased to result in the new value represented by the equation b + 0.62b. This equation simplifies to 1.62b, meaning the card is now worth 1.62 times what it was worth originally.

The equation b+0.62b = 2.48 represents the current value of Sam's baseball card. To determine the correct percent increase, we need to find the value of b.The increase is obtained by subtracting the original value from the total, which is 0.62b. To find the percentage increase, we divide the increase by the original value and multiply by 100, which is (0.62b / b) × 100, resulting in 62%. Hence, the percent increase in value of the baseball card is 62%, not 240% or 248%.