At the end of each year

[mehrak]

At the end of each year, the value of a certain paint is x percent more than its value one year earlier, where x has the same value each year. If the value of the paint was 100,000 dollars on January 1, 2001, and 121,000 dollars on January 1, 2003, what was the value of the paint, in dollars, on January 1, 2004?

(A) 130,000

(B) 131,000

© 133,100

(D) 144,100

(E) 158,510

 

OA:C

 

[Shooter]

Let the first year(2001) be n.

By second year it increase by x percent.

second year(2001) = n+nx => n(1+x)

third year (2003) = n(1+x)(1+x) =>n(1+x)^2

Given this value = 121000 and we have n = 100000;

100000(1+x)^2=121000

(1+x)^2 = 121/100

(1+x)=11/10

x = 1/10% => 10%

 

Hence 121000+10% of 121000 = 1133100.

[genius_in_the_gene]

121000=100,000(1+x/100)^2

 

From this we get x=10

So value in 04 will be

121,000+.1*121,000

 

C