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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Solve the following word problems for the portion, rate, or base.

A recent report on a financial website noted that for the first time in more than a decade, the size of the average newly built American house had shrunk to 2.065 square feet, or 93% of its original size. What was the original size before the decline? Round to the nearest square foot.

To determine

To calculate: The original size of the American house before the decline and round it to nearest square feet, if according to a recent report on a financial website the average newly built American house had shrunk to 2,065 square feet, or 93% of its original size for the first time in more than a decade.

Explanation

Given Information:

The average newly built American house had shrunk to 2,065 square feet, or 93% of its original size for the first time in more than a decade.

Formula used:

Steps for computing percentage problems;

Step1: Recognize the two known values and the unknown value.

Step2: Pick the formula that solves the unknown value.

Step3: Solve the equation by putting the known values for the letters in the formula.

The formula to compute the base is;

B=PR

Calculation:

The value of rate is R=93% as rate is the term having % sign and the value of portion is P=2,065 square feet as it is the part of the whole the unique characteristic of portion is that the average newly built American house had “shrunk” to 2,065 square feet.

Here the original size of the American house before the decline is unknown and hence the missing value is base, as base is the whole amount that is recognized as the value headed by the word “of”

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