Question

Ron is selling items at a craft show. The first hour his sales are $20. His sales grow by 10% each hour. What are Ron's total sales for the first 5 hour? A. $101.00 B. $102.02 C. $122.10
Could you also explain how to do it?

Answer 1

Sales in first hour: $20
Sales in second hour: $20 * 1.1 = $22
Sales in third hour: $22 * 1.1 = $24.20
Sales in fourth hour: $24.20 * 1.1 =  $26.62
Sales in fifth hour: $26.62 * 1.1 = $29.28
Total sales: $20 + $22 + $24.20 + $26.62  $29.28 = $122.10

Answer 2

C. $122.10. You take 20, then take 10 percent of that to find the second hour's earnings (which is $22), then you take 10% of that number to find the next hour's earnings, and so on and so on until you reach the 5th hour. When you add all the values up, you get $122.10.