Question

Cody's rent is increasing by $51 per month starting next year. That is an increase of 15% from his current monthly rent. Let r represent Cody's current rent. Set up an equation and solve it to find the value of r.

Answer 1

Answer:

$r = 43.35$

Step-by-step explanation:

Given

$Current\ Rent = r$

$Increment = 15\%$

$New\ Rent = \ 51$

Required

Determine the value of r

The value of r can be set up percentage increase formula as follows:

$\%Increment = \frac{New\ Rent - Current\ Rent}{Current\ Rent}$

Substitute values in the above equation

$15\% = \frac{51 - r}{51}$

Cross Multiply

$51 - r = 15\% * 51$

Convert percentage to decimal

$51 - r = 0.15 * 51$

$51 - r = 7.65$

And the value of $r\ is\ calculated\ using:$

$r = 51 -7.65$

$r = 43.35$

Hence, Cody's current rent is $43.35 monthly