Question

A new car costs $29,750, which i Price Inflation approximately 115% of what a comparable car cost 3 years ago. What did the car cost 3 years ago?

Answer 1

The cost of the car 3 years ago was approximately $13837

Explanation

Suppose, the cost of the car was  $x$ dollar 3 years ago.

As the price inflation is approximately 115% now, so the amount of increased price $= x* 115\% = x*\frac{115}{100}=1.15x$ dollar.

So, the cost of the new car in term of x will be:  $(x+1.15x)=2.15x$ dollar

Given that, a new car costs $29,750.  So, the equation will be .......

$2.15x= 29750\\ \\ x=\frac{29750}{2.15}=13837.209.... \approx 13837$

So, the cost of the car 3 years ago was approximately $13837