Question

The library at a certain university reported that journal prices had increased by 130% over a period of 10 years. The report concluded that this represented a price increase of 13% each year. If journal prices had indeed increased by 13% each year, what percentage increase would that give over 10 years? (Round your answer as a percentage to the nearest whole number.)

Answer 1

It would be a 1060% increase.

Explanation:

You should start with a basic number such as 1 dollar. Then you should increase that 1 by 130% ten times. The result should be 10.604 dollars. This is a 1060% from 1 dollar. Hope this helps :)