Question

A computer store decides to increase the prices of all the items it sells by 15%. The store manager uses matrices to prepare the new price list. Matrix A contains the unit price of each product in each category. Matrix B contains the revised price of each item in each category. How can the manager obtain the entries for Matrix B?

Answer 1

The manager could perform scalar multiplication on Matrix A, using the scalar 1.15.

Increasing the price by 15% would mean we are taking 100% of the value + another 15%; 100+15 = 115%; 115% = 115/100 = 1.15.

Multiplying every value in Matrix A by 1.15 will give the price raised by 15%.