The next model of a sports car will cost 5.3% more than the current model. The current model costs $ 41,000 . How much will the price increase in dollars? What will be the price of the next model?

Question

Increase in price:

Price of next model:

Answer 1

To calculate the price increase and the price of the next model, we will use the following steps:

1. Calculate the increase in price: The current model costs $41,000, and the increase is 5.3% of that price.

   \[ \text{Increase in price} = \text{Current price} \times \frac{\text{Percentage increase}}{100} \] \[ \text{Increase in price} = 41,000 \times \frac{5.3}{100} = 41,000 \times 0.053 = 2,193 \]

2. Calculate the price of the next model: To find the price of the next model, add the increase to the current price.

   \[ \text{Price of next model} = \text{Current price} + \text{Increase in price} \] \[ \text{Price of next model} = 41,000 + 2,193 = 43,193 \]

Putting it all together:

• Increase in price: $2,193
• Price of next model: $43,193