SOLUTION: For the past three years, the price of apples has risen 5%per year. If this trend continues, how much more will apples cost in two years than they do now? a)10% b) 10.25% c) 2.

Algebra ->  Customizable Word Problem Solvers  -> Misc -> SOLUTION: For the past three years, the price of apples has risen 5%per year. If this trend continues, how much more will apples cost in two years than they do now? a)10% b) 10.25% c) 2.      Log On

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Question 283822: For the past three years, the price of apples has risen 5%per year. If this trend continues, how much more will apples cost in two years than they do now?
a)10% b) 10.25% c) 2.5% d) cannot be determined

Found 2 solutions by JenniferTutors, richwmiller:
Answer by JenniferTutors(83) About Me  (Show Source):
You can put this solution on YOUR website!
For this Word Problem, if the price of apples went up 5% each year for 3 years, then you can determine it went up a total of 15%. So, if the trend continued, 5% each year, in two years it will have gone up an additional 10%.

Answer by richwmiller(17219) About Me  (Show Source):
You can put this solution on YOUR website!
In two years it is not just 5+5=10
but it is 1.05*1.05-1
110.25-100
=10.25%
b)10.25%