Question

Felix’s Feed Mill sells chicken feed for $8.00 per bag. This price is no longer high enough to create a profit. Felix decides to raise the price. He is considering four different plans.

Plan A: Raise the price by $0.10 each week until the price reaches $12.00.

Plan B: Raise the price by 10 percent each week until the price reaches $12.00.

Plan C: Raise the price by the same amount each week for 8 weeks, so that in the eighth week the price is $12.00.

Plan D: Raise the price by $0.25 each week until the price reaches $12.00.

Which plan will result in the price of the feed reaching $12.00 fastest?
plan A
plan B
plan C
plan D

Answer 1

B

Explanation:

essentially the plan that increases the price the most per week reaches the goal of $12 fastest.

plan A is $0.10 per week.

plan B it is not clear, if it means 10% of the original price every week, or every week 10% of the price of the previous week. I assume the first and simplest.

that means 10% of $8 = $0.80 per week.

plan C : the same amount every week until reaching $12. we need to increase in total by $4 (from $8 to $12). to reach these $4 in 8 weeks, we need to increase the price every week by 4/8 = $0.50.

plan D : $0.25 per week.

so, the plan with the highest increase every week and therefore the fastest one reaching $12 is plan B.