Question

In this year, the average cost of a traditional Thanksgiving dinner for 10 people, featuring stuffing, cranberries, Turkey, pie, and trimmings, was $48.25. A decrease of 1.86% from the cost in the last year. What was the average cost of a traditional Thanksgiving dinner in the last year?$____ (round to the nearest cent)

Answer 1

Given

In this year, the average cost of a traditional Thanksgiving dinner for 10 people, featuring stuffing, cranberries, Turkey, pie, and trimmings, was $48.25.

A decrease of 1.86% from the cost in the last year.

To find: What was the average cost of a traditional Thanksgiving dinner in the last year?

Step-by-step explanation:

It is given that,

In this year, the average cost of a traditional Thanksgiving dinner for 10 people, featuring stuffing, cranberries, Turkey, pie, and trimmings, was $48.25.

That implies,

Let x be the average cost in the previous year.

Then,

`\begin{gathered} x-(1.86)/(100)x=48.25 \\ x-0.0186x=48.25 \\ 0.9814x=48.25 \\ x=(48.25)/(0.9814) \\ x=49.16 \end{gathered}`

Hence, the average cost of a traditional Thanksgiving dinner in the last year is $49.16.