In 1990, the cost of tuition at a certain private high school was $3870. By 1997, it has risen approximately 118%. What was the approximate cost in 1997?

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Answer 1 · 2018-02-12T03:21:32

See a solution process below:

The formula for finding a new cost based on a percentage increase is:

#n = c + (c xx r)#

Where:

#n# is the new cost: what we are solving for in this problem.

#c# is the old cost: $3870 for this problem.

#r# is the rate increase: 118% for this problem. "Percent" or "%" means "out of 100" or "per 100", Therefore 118% can be written as #118/100#.

Substituting and calculating #n# gives:

#n = $3870 + ($3870 xx 118/100)#

#n = $3870 + ($456660)/100#

#n = $3870 + $4566.60#

#n = $8436.60#

The approximate cost in 1997 would have been: $8,437

In 1990​, the cost of tuition at a certain private high school was​ $3870. By 1997​, it has risen approximately 118​%. What was the approximate cost in 1997?