Stumped! Math help Please!

[Boomyal]

If one dollar grows by 1000%, did it become $10.00 or $100.00?<br /><br />My guess is that it is $10.00 but that does not feel right. My reasoning is that if $1.00 increases by 100% it becomes $2.00. If you carry that out in a lineal fashion the answer is $10.00. I know you cannot continue to compound it.<br /><br />Any answers should be accompanied by a formulae!

 

[Dunaruna]

Re: Stumped! Math help Please!

1000% of $1.00 is $10.00 plus you still have the original $1.00 = $11.00<br /><br />Plus my calculator said so <br /><br />Aldo

 

[Boomyal]

Re: Stumped! Math help Please!

Originally posted by Dunaruna:<br /> 1000% of $1.00 is $10.00 plus you still have the original $1.00 = $11.00<br /><br />Plus my calculator said so <br /><br />Aldo

Formulae? What formulae? Aldo don't need no stingin formulae. Da caculator neva lies!<br /><br />Thanks Aldo, that's what mine said too. As I said it just didn't feel right and that is why I expect the percentage figure was used instead of just saying 10 times.

 

[PAkev]

Re: Stumped! Math help Please!

Diddo Dunaruna....<br /><br />Here is an example to help understand using a concept such as "mark-up" often used in the retail arena.<br /><br />$1 @ 100% markup.................. (X 2) = $2<br />meaning add 100% of $1<br /><br />$1 @ 500% markup.................. (X 5) = $5<br />meaning add 500% of $1<br /><br />$1 @ 1000% markup................ (X 10) = $10<br />meaning add 1000% of $1

 

[Dunaruna]

Re: Stumped! Math help Please!

I'm a little confused (not unusual). You said "if $1.00 GROWS by 1000%" indicating addition.<br /><br />If the sum was "what is 1000% OF $1.00" - then its $10.00.<br /><br />Make sense? Na, me either <br /><br />Aldo

 

[Drowned Rat]

Re: Stumped! Math help Please!

To arrive at the answer you simply multiply the initial amount times the decimal equivalent of the percentage. 1000% is equal to 10.0 so $1 times 10 equals $10.00

 

[Boomyal]

Re: Stumped! Math help Please!

Gottcha! Thanks all!

 

[Triton II]

Re: Stumped! Math help Please!

Sheeze Boomyal, your super fund must be performing WAY better than mine!

 

[Calessa]

Re: Stumped! Math help Please!

Are those U.S. or Aussie dollars? :-0

 

[Boomyal]

Re: Stumped! Math help Please!

Originally posted by Triton II:<br /> Sheeze Boomyal, your super fund must be performing WAY better than mine!

No Triton, it was actually a claim of near term potential growth regarding an emerging gold mining firm in China.<br /><br />ticker # kygc.ob<br /><br />an interesting read. One of those things that would give you a hair raising ride until it either popped or poofed.

 

[Dunaruna]

Re: Stumped! Math help Please!

Your not serious about the gold mine thing, are ya? Please tell me your joking.<br /><br />Kuya Mike, you could knock me over with a feather - Noble Park to Las Vegas, I'm about 20 min from Noble Park! <br /><br />Aldo

 

[Boomyal]

Re: Stumped! Math help Please!

Originally posted by Dunaruna:<br /> Your not serious about the gold mine thing, are ya? Please tell me your joking. Aldo

Nope! Yep!

 

[PAkev]

Re: Stumped! Math help Please!

Just think if your bank conveyed the cost of your mortgage this way instead of their tricky APR percentage thing.<br /><br />At the end of a 30 year mortgage a typical 100K note really turns out to be 300%.........Ouch!<br /><br />Could of bought a nice boat and lots of gas for 200K.