Alan deposited $300 into a savinga account. At the end of the first year, the amount of money in the account has increased to $3 36. At the end of the second year, he had $420. Find the percentg increase in the amount of money in his savings account at the end of the first year. HOW DO I SOLVE THIS????
1 answer:
He had put in $300 and got out $336 at the end of the year. This means an increase of $36 over a year. 10% of $300 = $30 dollars This shows that he definitely got more than a 10% increase. Alan got $6 more than $30 so to find 6 from 30, you divide by 5 so ( 10% = $30 ) divided by 5 = ( 2% = $6 ) Adding the amount of money and percentages gives you 12% = $36 So the amount of mpercentage increase is 12% Overall the amount of money in his bank now compared to when he deposited it, he has 112% in the bank.
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