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  3. An investment in a mutual fund increased by 12% in a single day. If the value of

An investment in a mutual fund increased by 12% in a single day. If the value of

游客2024-01-12  57
问题 An investment in a mutual fund increased by 12% in a single day. If the value of the investment before the increase was $1,300, what was the value after the increase?
选项
答案 $1,456
解析 The percent increase is 12%. Therefore, the value of the increase is 12% of $1,300, or, using the decimal equivalent, the increase is(0.12)($1,300)= $156. Thus, the value of the investment after the change is
$1,300+ $156 = $1,456
Because the final result is the sum of the initial investment—100% of $1,300—and the increase—12% of $1,300—the final result is 100% + 12% = 112% of $1,300.
Thus, another way to get the final result is to multiply the value of the investment by the decimal equivalent of 112%, which is 1.12:
($1,300)(1.12)= $1,456
A quantity may have several successive percent changes. The base of each successive percent change is the result of the preceding percent change.
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