Question

One year, Alex bought an antique car for his birthday. During the first year he owned it, the

value of the car gained 10%. During the second year, the value of the car gained another
15% from the previous year. If the value of the car is now $37,950.00, how much did Alex
originally pay for his car?

Answer 1

28462.5

Explanation:

During the first year it gained 10% and during his second year he gained 15% so you first add those and you get 25%.

Then you multiply 25% with 37,950.

25/100 * 37950 = 948,750/100

= 9487.5

To get the original amount you subtract 9487.5 from 37,950

37,950 - 9487.5 = 28462.5

So the original amount was 28462.5