A. In five years the price of a house in Vancouver is expected to be about 164% of today's price. If the trend continues, what percent of today's price would you expect the price of a house to be in 15 years?
B. The sum of two numbers is 24. One number is increased by 50% while the other is decreased by 50%. The sum of the two numbers is 28. What were the original numbers? (SHOW ALL WORK)
Solution Preview
A.
Let's assume that each year the price increase "a" percent. Then We have:
Price at year 1= Today + a*Today= Today*(1+a)
Price at year 2= Year 1+ a*Year 1= Today + 2*a*Today+ a^2*Today= Today*(1+a)^2
Similarly:
Price at year 3= ...
Solution Summary
Two word problems involving percentages are solved.
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