percentage multiplier question

[hot sphinx]

Anyone able to help with this?

[short zenith]

u can say original x 1.04 = 3000 for part a

find the original by dividing both by 1.04

so that's £2884.62 to the nearest penny

now when we say it increases by 4% each year, we are assuming the price increases by 4% each year relative to the new price

kind of like compound interest

so we can do original x 1.04^10 = 3000

divide both sides by 1.04^10 to get £2026.69 to nearest penny

@hot sphinx my website has examqa maths worksheets (including compound interest and depreciation) to help consolidate your learning, just reply if u wanna have a look

[hot sphinx]

Sorry for the late reply, il check it out sure what’s it called?

[short zenith]

i'll dm u