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nekit [7.7K]
3 years ago
13

2. The current cost of gourmet coffee is $14 per pound. At the corner market

Mathematics
1 answer:
Dominik [7]3 years ago
3 0

Answer:

<u>The cost two years ago = $11.57</u>

Step-by-step explanation:

The rest of the question is

what did a pound of gourmet coffee beans cost two years ago?

So, let the cost two years ago = x

The cost has increased 10% per year

so, the cost one year ago = x + 10% of x = x + 0.1 x = 1.1 x

So, the current cost = 1.1 x + 10% of 1.1 x = 1.1 x + 0.1 * 1.1 x = 1.21 x

But given the current cost = $14

∴ 1.21 x = 14

∴ x = 14/1.21 = 11.57

So, <u>the cost two years ago = $11.57</u>

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