Question

The price of a vase was increased by 4% to £22. What was the price before the increase? Give your answer to the nearest penny.

Answer 1

21.15

Explanation:

22 × 10 = 220

100%+4%=104

104 ÷ 10 = 10.4

220 ÷ 10.4 =21.15384615

To the nearest penny it would be 21.15

Answer 2

The price before the increase was £21.20

Explanation:

Now, let the former price before the increment be £x

The increment would be 22-x

Mathematically, the percentage increment = difference between the prices/old price * 100%

Thus, we have(

(22-x)/x * 100 = 4

100(22-x) = 4x

2200-100x = 4x

100x + 4x = 2200

104x = 2200

x = 2200/104

x = 21.154

which is x = 21.2 to the nearest penny