Solving Operations

Question

Jay has 12 classic cars in his garage. He paid $3,500 for each car 5 years ago. The cars are currently worth $4,200 each. How much more must the average value of the cars rise for the combined value of these 12 cars to be exactly $10,800 more than Jay paid for them? A. $200.00 B. $700.00 C. $800.50 D. $841.67 E. $958.33

Answer 1

He paid 12 * 3500 = 42000 for the cars 5 years ago.

They are currently worth 4200 each, so their combined value

is 12*4200 = 50400, which is 50400-42000 = 8400 difference.

They are to be 10800 more, which is a shortage of 10800-8400 = 2400.

2400/12 = 200 each, option A

check. They SHALL be worth 4400 each, and 4400*12 = 52800, which is exactly

10800 more than what he paid for them 5 years ago..

Answer 2

3500(12) = 42,000 paid

42,000 + 10,800 = 52,800

52,800/12 = 4400

4400 - 4200 = $200.00