Hi
Could someone help me understand this from the OG?
In the following example, the increase is greater than 100percent:
***
If the cost of a certain house in 1983 was 300 percent of its cost in 1970, by what percent did the cost increase?
If n is the costin 1970, then the percent increase is equal to 3n - n / n = 2, or 200%.
***
Why is this? Is this just a matter of nomenclature?
If something is 300 percent of its cost, doesn't that mean it is its cost * 300 percent? -- or a 300 percent increase?
Or is "percent increase" just always expressed as delta (n) / n ? (in which case it is 3n - n / n, regardless of the nomenclature confusion.
Also does this matter for the test?
Thanks!
Could someone help me understand this from the OG?
In the following example, the increase is greater than 100percent:
***
If the cost of a certain house in 1983 was 300 percent of its cost in 1970, by what percent did the cost increase?
If n is the costin 1970, then the percent increase is equal to 3n - n / n = 2, or 200%.
***
Why is this? Is this just a matter of nomenclature?
If something is 300 percent of its cost, doesn't that mean it is its cost * 300 percent? -- or a 300 percent increase?
Or is "percent increase" just always expressed as delta (n) / n ? (in which case it is 3n - n / n, regardless of the nomenclature confusion.
Also does this matter for the test?
Thanks!