Math Problem of the Week - Algebra and Up - June 27, 2021 to July 3, 2021

Algebra and Up: 

Question: The value of a painting increased by 20% after the painter appeared on a popular talk show. The value of the painting increased again by 15% when the painter was featured in a magazine. If the value of the painting is now $1,242.00, what was its original value? 

Answer: $900

Solution: 

The value increased by 20%, then the percent increase was compounded by another 15%. So, if we call the original value of the painting x, we can set up an equation:

x(1.20)(1.15) = $1,242.00

1.38x = $1,242.00

x = $900.00