In 1969 the price of 5 kilograms of flour was $0.75. In 1970 the price was increased 15 percent. In 1971, the 1970 price was decreased by 5 percent. What was the price of 5 kilograms of flour in 1971?
If the price of 5 Kg of flour in 1969 = $0.75, then
1970 = $0.75 x 1.15 = $0.8625
1971 = ($0.75 x 1.15) x .95
= $0.82?
correct
To find the price of 5 kilograms of flour in 1971, we can follow these steps:
1. In 1969, the price of 5 kilograms of flour was $0.75.
2. In 1970, the price was increased by 15 percent. So, we can calculate the new price as follows:
New price in 1970 = $0.75 + ($0.75 x 0.15) = $0.8625
3. In 1971, the 1970 price was decreased by 5 percent. So, we can calculate the final price in 1971 as follows:
Final price in 1971 = $0.8625 - ($0.8625 x 0.05) = $0.819375
Therefore, the price of 5 kilograms of flour in 1971 is approximately $0.8194.
To calculate the price of 5 kilograms of flour in 1971, we will follow these steps:
Step 1: Calculate the price in 1970
To find the price in 1970, we need to increase the price in 1969 by 15 percent.
Price in 1970 = Price in 1969 x (1 + 15/100)
Price in 1970 = $0.75 x (1 + 0.15)
Price in 1970 = $0.75 x 1.15
Price in 1970 = $0.8625
Step 2: Calculate the price in 1971
To find the price in 1971, we need to decrease the price in 1970 by 5 percent.
Price in 1971 = Price in 1970 x (1 - 5/100)
Price in 1971 = $0.8625 x (1 - 0.05)
Price in 1971 = $0.8625 x 0.95
Price in 1971 = $0.819375
So, the price of 5 kilograms of flour in 1971 is approximately $0.82.