Question

Several years ago, Hannah bought some gold at a price of $980 per ounce. When she went to sell it, the gold was 70% more than it was when she purchased it. What was the new value of the gold?

Answer 1

New price of gold is $1666 per ounce.

Explanation:

Given that,

Old price of gold = $980 per ounce

Percentage increase in gold price = 70%

New price of gold = 1.7 * 980

New price of gold = $1666 per ounce