Question

The cost of $ 385 in 2004 was 10% more than the cost in2003. Calculate the cost in 2003.

Answer 1

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Answer:

$350

Explanation:

Let c represent the cost in 2003. Then we have the cost in 2004 is ...

c + 0.10·c = 385

1.1c = 385

c = 385/1.1 = 350

The cost in 2003 was $350.