Question

In 2012, a sculpture was valued at

£3700.
By the end of 2013, its value had gone up
by 1%.
What was its value at the end of 2013?
Give your answer in pounds (£).

Answer 1

The value of the sculpture at the end of 2013 can be calculated by adding 1% of its initial value to the initial value.

1% of £3700 is (1/100) * £3700 = £37.

Adding £37 to £3700 gives a value of £3737 at the end of 2013.