Mr. Hollis determines that he gives away $800 each month. If he gives away 16% of his budget how much is his overall budget?
1 answer:
Answer:
The overall budget of Mr. Hollis is $5,000.
Step-by-step explanation:
Le the total overall budget of Mr. Hollis = k
The amount he gives away each month = $800
Also, given that $ 800 is 16 % of the overall budget.
⇒ 16% of k = $800
or,
⇒ k = $5,000
or, 16% of the amount $5000 is $800.
Hence, the overall budget of Mr. Hollis is $5,000.
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The price of a painting in the year 2022 will be $ 568,000.
<h3>What is inflation?</h3>A rise in the amount of a certain product or service is known as inflation.
Given data;
Cost of painting in the year 2021, P₁ = $560,000
Cost of painting in the year 2022, P₂ =?
The amount increases every year,x = $8,000
The cost of painting in the year 2022 is found as;
P₂ = P₁ + x
P₂= $560,000 + $8,000
P₂ = $ 568,000
Hence the price of a painting in the year 2022 will be $ 568,000.
To learn more about inflation refer;
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