Question

Over a three-week period, the price of an ounce of gold increased by 25% in the first week, decreased by 20% in the following week, and increased by 5% in the third week. If the price of gold was \( G \) dollars per ounce at the beginning of the three weeks, what was the price, in terms of \( G \), at the end of the three weeks?

• A. 0.95G
• B. G
• C. 1.05G
• D. 1.1G
• E. 1.15G

Hint:

To calculate successive percentage changes, multiply the price by the corresponding factors for each period.

Answer 1

Answer: (E)

Step 1: Calculate the price after the first week.
The price increased by 25%, so the price after the first week is: \[ G \times 1.25 \] Step 2: Calculate the price after the second week.
The price decreased by 20%, so the price after the second week is: \[ G \times 1.25 \times 0.80 = G \times 1.00 \] Step 3: Calculate the price after the third week.
The price increased by 5%, so the final price is: \[ G \times 1.00 \times 1.05 = G \times 1.05 \] Final Answer: \[ \boxed{1.05G} \]