Question

The price of oil was USD 60.00 per barrel in September. The price fell by one third from september to March. By what fraction must the March price per barrel rise to return to USD 60.00?

Answer 1

Given :

The price of oil was USD 60.00 per barrel in September.

The price fell by one third from September to March.

To Find :

By what fraction must the March price per barrel rise to return to USD 60.00 .

Solution :

Price fell = ( 60 - 60÷3 ) = 60 - 20 = $40 .

Now, let x be the fraction by which price per barrel rise to return to USD 60.00 in March is x .

`40 + 40x = 60\\\\40(1+x) = 60\\\\1 + x = (3)/(2)\\\\x = (1)/(2)`

Therefore, price should increase by fraction of 1/2 .

Hence, this is the required solution.