Given:
Cost of current model = $51, 000
Cost of the next model is 3.3% less than the cost of the current model.
Mathematical interpretation of the second statement:
[tex]\cos t\text{ of the next model = (100-3.3) \% of the cost of the current model}[/tex]Substituting, we have:
[tex]\begin{gathered} \cos t\text{ of the next model = }\frac{96.7}{100}\text{ }\times\text{ 51000} \\ =\text{ 49317} \end{gathered}[/tex]Hence, the price of the next model in dollars is $49317
The price decrease in dollars is the difference between the cost of the next model and the cost of the current model.
[tex]\begin{gathered} \text{price decrease = Cost of the current model - cost of the next model} \\ =\text{ 51000 - 49317} \\ =\text{ 1683} \end{gathered}[/tex]Hence, the price decrease in dollars is $1683
Answer:
(i) price decrease = $ 1683
(ii) price of the next model = $49317
