Question

Tickets for a concert have been in incredibly high demand and as the date for the concert draws closer the price of tickets increases exponentially The cost of a pair of concert tickets was $150 yesterday and today it is $162. as you complete parts a through C below assume that each days percent increase from the day before is the same.

Answer 1

So we have two quantities and need to find out how much percentage it increased from one to another and then maybe write an equation that describes the behavior. Lets find the percentage raise between quantities using a simple rule of three, direct proportion:
150 -----> 100
162  ---->  x

x = (162)(100)/150
x = 108
that means that $162 is the 108% of $150, or that the tickets are raising their price by 8% daily. The problem states as well that the price grow is exponential, not expressed by a linear equation that is.