Problem

Leah's investment account was valued at $\$ 15,000$ but then lost $17 \%$ of its value. What percent increase is needed for the investment account to return to its previous value? $\%$ Preview

Solution

Step 1 :Leah's investment account was initially valued at $15,000.

Step 2 :The account then lost 17% of its value. To calculate the new value of the account, we subtract 17% of the initial value from the initial value.

Step 3 :The new value of the account is $12,450.

Step 4 :To calculate the percent increase needed for the account to return to its previous value, we subtract the new value from the initial value, divide the result by the new value, and then multiply by 100 to get the percentage.

Step 5 :The percent increase needed for the investment account to return to its previous value is approximately \(\boxed{20.48 \%}\).

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Source: https://solvelyapp.com/problems/20053/

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