Question

An apartment cost $870 per month to rent. The owner raises the price by 20% and then gives a discount of 8% to returners who sign an 18 month lease. How much less the renters who signed the 18 month lease pay per month to rent the apartment

Answer 1

$34.8

Explanation:

Given data

Cost of apartment= $870 per month

increase= 20%

Discount= 8%

Let us find the amount of increase

=20/100*870

=0.2*870

=$174

New cost = 870+174

=$1044

New cost of apartment for 18 month

=1044*18

=$18792

He gave them 8% discount

=8/100*18792

=0.8*18792

=$15033.6

Hence the monthly fee will be

=15033.6/18

=$835.2

Therefore the difference in price is

=870-835.2

=$34.8