Question

Last year, Rachael opened an investment account with $5800 . At the end of the year, the amount in the account had increased by 23.5% . How much is this increase in dollars? How much money was in his account at the end of last year?

Answer 1

`(x)/(123.5)= (5800)/(100)`

Where x represent the amount at the end of the year and if we solve we got:

`x = 123.5 *(5800)/(100)= 7163`

And the the increase would be:

`Increase= 7163 -5800= 1363`

Explanation:

We know that the initial amount is 5800 and at the end of the year the amount increase by 23.5% so then we can use the following proportional rule:

`(x)/(123.5)= (5800)/(100)`

Where x represent the amount at the end of the year and if we solve we got:

`x = 123.5 *(5800)/(100)= 7163`

And the the increase would be:

`Increase= 7163 -5800= 1363`