Saab Corporation raised the base price of its popular 900 series by $1,090 to $34,000. What was the percent increase? (Round to the nearest tenth percent. Omit the "%" sign in your response.)
The first step of solving a story problem is know what is being looked for. In this problem, the answer being sought is the percent of increase.
The second step of solving a story problem is identifying what each number means. In this proble, there are three numbers. There meanings are
900: destractor (this number has nothing to do with the mathematics of the problem)
$1,090: Amount of money increased
$34,000: Total amount of money after increase
Since the problem asks for the percent increase, the original amount of money (cost before increase) is needed. To find this we will write a formula where the increase ($1,090) is added to the cost before increase (x) to produce the final cost ($34,000).
x + $1,090 = $34,000
Next we solve the equation for x.
x + $1,090 - $1,090 = $34,000 - $1,090
x = 32,910
To find the percent increase, divide the amount of increase ($1,090) by the original price of the product ($32,910).
The answer (rounded to the neareset tenth percent) is 3.3%.