Question

A college raises its tuition in each of three consecutive years. If the percent increase by 5%, 9%, and 7%, determine the overall percent increase at the end of the three-year period?

Answer 1

The overall percentage increase is 22.5%.

step-by-step explanation

Percentage increase in the first year=5%

Percentage increase in the second year=9%

Percentage increase in the third year=7%

we have to calculate the overall percentage increase

Let  the initial tuition fees be x

tuition fees after three years=

=$x\times \frac{100+a}{100} \times\frac{100+b}{100}\times \frac{100+c}{100} \\=x\times \frac{105}{100} \times\frac{109}{100} \times\frac{107}{100} \\\\=x\times \frac{1224615}{1000000} \\=x\times\frac{122.4625}{100} \\=x\times\frac{100+22.4625}{100}$

The overall percentage increase is 22.5%.