Percentage increase question

Oct 2016
2
0
UK
Hello everyone,

I have 2 answers for this and I'm not sure which is the correct one. The question is:

An article of clothing costs £45 this year, a 10% increase in last years price. What was the articles value last year?

My 2 values are 40.5 and 40.90 reoccurring.

Can you tell me which is the correct answer and the working out.

Thank you
 

romsek

MHF Helper
Nov 2013
6,836
3,079
California
Hello everyone,

I have 2 answers for this and I'm not sure which is the correct one. The question is:

An article of clothing costs £45 this year, a 10% increase in last years price. What was the articles value last year?

My 2 values are 40.5 and 40.90 reoccurring.

Can you tell me which is the correct answer and the working out.

Thank you
$45 = (1.1)cost_{\text{last year}}$

$cost_{\text{last year}} =\dfrac {45}{1.1} = 40.\overline{90}\approx 40.91$
 
Oct 2016
2
0
UK
Thank you very much for the answer and the working out
 
Jun 2016
21
4
india
Let the cost of last year = £x
10% of x = x/10
The cost of this year will be = cost of last year + 10% of cost of last year
= x + x/10
= 11x/10
Now, we have already given the cost of this year which is £45
thus,
11x/10 = 45
11x = 450
x = 450/11 =40.9090
It is similar to £40.91
So, the cost of last year was £40.91.
 
Last edited: