Question

The next model of a sports car will cost 3.4% more than the current model. The current model costs $36,000. How much will the price increase in dollars? What will be the price of the next model?

Answer 1

`\begin{gathered} 1224 \\ 37224 \end{gathered}`

Step-by-step explanation

Given;

Current model costs $36000

$36000 is 100% of current price.

Next model will be 100% plus 3.4%;

`\begin{gathered} 100+3.4=103.4 \\ =(103.4)/(100) \\ =1.034 \end{gathered}`

t

`\begin{gathered} 1.034*36000 \\ =37224 \end{gathered}`

Therefore, the increase in price;

`\begin{gathered} 37224-36000 \\ =1224 \end{gathered}`

Hence, the price increase in dollars is $1224 while the price of the next model is $37224