Last year, a property manager bought seven identical snow shovels and nine identical bags of salt. The total cost of the snow shovels was $241.50, before tax, and each bag of salt cost $6.20, before tax. This year, the property manager bought 3 identical snow shovels and six identical bags of salt. The total cost of the snow shovels was $105.57, before tax, and the total cost of the bags of salt was $39.06, before tax. Determine the item with the greatest percent increase in the price from last year. Be sure to include the percent increase for this time to the nearest percent.

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Isaacoranseolaid Isaacoranseolaid · Answer 1

Answer:

Step-by-step explanation:

The formula to approach this shall be:

( Final price - Initial price )/ Final price × 100/1 ............. 1

Hence for the snow shovels

Initial price = $241.50 for 7

Each will cost = $241.50/7

= $34.5

Final price for snow shovels

= $105.57 for 3 shovels

Each will cost = $105.57/3

= $35.19

Now considering the bags of salt

Initial price = $6.20 each

Final price = $39.06 for 6 bags

Each bag cost = $39.06/6

= $6.51

Now apply the formula in equation (1)

For snow shovels

($35.19- $34.5)/$34.5 × 100/1

= 0.69/34.5 × 100/1

= 0.02×100/1

= 2%

For bags of salt

($6.51-$6.20)/$6.20 ×100/1

0.31/6.20×100/1

0.05×100/1

= 5%

Hence from the above solution, we can now deduce that shovel increased by 2% while bags of salt went up by 5%.