Given:
Price of gold in 2001 = (0.5x+300)
Its price tripled in 2008 and then doubled in 2011. In 2016, its price dropped to [tex]\dfrac{2}{3}[/tex] of the price in 2011.
To find:
An expression for the price of gold per ounce in 2016.
Solution:
We have,
Price of gold in 2001 [tex]= (0.5x+300)[/tex]
Its price tripled in 2008.
Price of gold in 2008 [tex]= 3(0.5x+300)[/tex]
Then doubled in 2011.
Price of gold in 2011 [tex]= 2\times 3(0.5x+300)[/tex]
In 2016, its price dropped to [tex]\dfrac{2}{3}[/tex] of the price in 2011.
Price of gold in 2016 [tex]=\dfrac{2}{3}\times 2\times 3(0.5x+300)[/tex]
[tex]=2\times 2(0.5x+300)[/tex]
[tex]=4(0.5x+300)[/tex]
[tex]=4(0.5x)+4(300)[/tex]
[tex]=2x+1200[/tex]
Therefore, the required expression for the price of gold per ounce is (2x+1200).
