document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=508356>Question 508356</A>: <I><SPAN STYLE=\"word-break: break-all;\"> the price of certain commodity increases by 20% in 1991 and by 30% in 1992 and by 45% in 1993. what is the average percentage rate in the price of the commodity?  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #340972 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=340972\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the price of certain commodity increases by 20% in 1991 and by 30% in 1992 and by 45% in 1993. what is the average percentage rate in the price of the commodity?<BR>\n" );
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document.write( "Let starting price be \"x\"<BR>\n" );
document.write( "In '91 the price is 1.2x<BR>\n" );
document.write( "In '92 the price is 1.3(1.2)x<BR>\n" );
document.write( "In '92 the price is 1.45(1.3)(1.2x)<BR>\n" );
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document.write( "The final price is 2.262x<BR>\n" );
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document.write( "Increase over the 3 years is 2.262x-x = 1.262x\r<BR>\n" );
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document.write( "Average increase over the 3 years is 1.262/3 = 0.4207 = 42.07%<BR>\n" );
document.write( "==========<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. <BR>\n" );
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