Three years ago the average price of a movie ticket was $8.75 and now it is $11.00. What was the annual multiplier and the perce

Question

Sedaia [141]

4 years ago

6

Three years ago the average price of a movie ticket was $8.75 and now it is $11.00. What was the annual multiplier and the perce

nt increase

Mathematics

1 answer:

Andrei [34K] · Answer 1 · 2022-02-10T06:34:26+03:00

Andrei [34K]4 years ago

8 0

Given:
Price of tickets:
3 years ago - 8.75
now - 11

annual multiplier:

b³ = 11/8.75
b = ∛11/8.75
b = 1.079

The annual multiplier is 1.079.

1.079 * 100% = 107.9%

107.9% - 100% = 7.9%

The percentage increase is 7.9%