The value of gold in 2000 was £1050 per troy ounce

MATHEMATICS · Subjective · A Level · Mathematics · Exponentials and logarithms · Exponentials and logarithms

Problem

The value of gold in 2000 was £1050 per troy ounce. Over the next two years, it increased by 11% then decreased by 23%. What was the value of gold in 2002?

Related theory

Financial Arithmetic
Growth and depreciation
Compound Interest
Ratio and Proportion
Compound interest, growth and depreciation

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