The price of a pair of baseball gloves is increased by 15%. The next month, its price is further increased by 40%. This double increase in the price of the pair of baseball gloves would be equivalent to a single increase of

general knowledge math & puzzles

  1. 25%

  2. 49%

  3. 51%

  4. 55%

  5. 61%

Show answer
Correct Option: E

AI Explanation

To solve this problem, we need to find the equivalent single increase in price that would result in the same final price as the double increase of 15% followed by 40%.

Let's assume the original price of the baseball gloves is $100.

After the first increase of 15%, the price becomes: $100 + 15% of $100 = $100 + $15 = $115.

After the second increase of 40%, the price becomes: $115 + 40% of $115 = $115 + $46 = $161.

So, the final price after the double increase is $161.

Now, let's find the single increase that would result in the same final price of $161.

Let the single increase be x%.

Using the formula for calculating a percentage increase, we can write:

$100 + x% of $100 = $161.

Simplifying this equation, we have:

$100 + 0.01x * $100 = $161.

Dividing both sides by $100, we get:

1 + 0.01x = 1.61.

Subtracting 1 from both sides, we have:

0.01x = 0.61.

Dividing both sides by 0.01, we get:

x = 61.

Therefore, the equivalent single increase is 61%.

So, the correct answer is E) 61%.

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