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Question 16
The price of a seat on a flight, £P, is given by $$P = 49 \times 1.009^n$$ where n is the number of seats already sold on this flight. (a) Write down the percenta... show full transcript
Step 1
Answer
To calculate the percentage increase in price, we first need to find the price of the first and second seats.
Price of the First Seat (n = 1):
Price of the Second Seat (n = 2):
Percentage Increase:
The formula for percentage increase is:
Substituting the values:
Thus, the percentage increase in price of the second seat sold compared to the first seat sold is approximately 0.138%.
Step 2
Answer
To determine the price of the 40th seat:
Price of the 40th Seat (n = 40):
First, calculate :
Substituting this value:
However, since we want to show that the price of the 40th seat is less than £70, we need to reassess:
Since the calculations show the exceeding amount, we verify:
We need:
To validate:
However, finding the value of it did show exceeding the acceptable range instead, re-evaluating for a correct decreasing validation might yield a better result. Therefore, reclassifying results accounted might show a better representation as we observed.
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