Personal Savings and Consumer Credit: Part One — Test
Question 13 • Advanced Financial Algebra
Last year, Nabiha's farm produced 575 kilograms of apples, which she sold at $2 per kilogram, earning her a total of $1,150 This year, due to unfavorable weather conditions, the farm produced only 500 kilograms. If she continues to sell at the same rate of $2 per kilogram, how much revenue will she earn this year, and what was the percent decrease in apple production?
Answer
A
Nabiha will earn 1 dollars comma 150 this year, and there was a 15 point 2 5 percent decrease in apple production.
B
Nabiha will earn 950 dollars this year, and there was a 12 point 0 0 percent decrease in apple production.
C
Nabiha will earn 1 dollars comma 000 this year, and there was a 13 point 0 4 percent decrease in apple production.
D
Nabiha will earn 1 dollars comma 050 this year, and there was a 10 point 0 0 percent decrease in apple production.
Explanation
This year’s revenue is 500 kilograms × $2 per kilogram = $1,000. Production decreased by 575 − 500 = 75 kilograms. The percent decrease is (75 ÷ 575) × 100 ≈ 13.04%, so the correct choice is the one stating $1,000 in revenue and a 13.04% decrease.
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