Can someone please explain how to solve this... I already have the answer
The cost to insure jewellery is a fixed amount plus a percentage of the value of the jewellery.
It costs $32 to insure $1000 worth of jewellery or $44.50 to insure $3500 worth of jewellery.
What is the fixed amount to insure jewellery?
The cost to insure jewellery is a fixed amount plus a percentage of the value of the jewellery.
It costs $32 to insure $1000 worth of jewellery or $44.50 to insure $3500 worth of jewellery.
What is the fixed amount to insure jewellery?
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32 = fixed + p * 1000
44.50 = fixed + p * 3500
12.50 = p * 2500
p = 12.50 / 2500 = 1/2 * 25 / 2500 = 1/2 of 1 %
fixed = 32 - 1/2 of 1% of 1000 = 27 ← Answer
1/2 of 1% of 3500 = 17.50
17.50 + 27 = 44.50
44.50 = fixed + p * 3500
12.50 = p * 2500
p = 12.50 / 2500 = 1/2 * 25 / 2500 = 1/2 of 1 %
fixed = 32 - 1/2 of 1% of 1000 = 27 ← Answer
1/2 of 1% of 3500 = 17.50
17.50 + 27 = 44.50