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 April 27th, 2017, 04:37 AM #1 Newbie   Joined: Apr 2017 From: Perth Posts: 1 Thanks: 0 Answer to a formula Hello. I am new to this forum but would appreciate advice. I am having an issue with a solicitor about a formula contained in a draft lease to increase the rent. The formula is supposed to increase the rent by 1.5% above the rate of CPI inflation using the following formula: NR = R+R(CPI%+P) Where NR = new rent R= Rent before review CPI = CPI P= Percentage increase Assuming R=10,000 and CPI =2 and P=1.5 is the following calculation correct? NR= 10,000 +10,000(2+1.5) NR= 10,000 + 10,000(3.5) NR = 10,000 + 35,000 NR = 45,000 If my working above is correct then the formula is incorrect. I will be interested to see if I am correct as it is 30 years since I did maths in school! Thank you in advance for any replies. April 27th, 2017, 05:27 AM #2 Math Team   Joined: Jul 2011 From: Texas Posts: 3,016 Thanks: 1600 NR = R + R(CPI + P) = R(1 + CPI + P) If CPI = 2%, then the formula entry would be 0.02, not 2. Same for P = 1.5% ... entry value for P would be 0.015, not 1.5. NR = 10000(1.035) = 10350 Thanks from Joppy Tags answer, formula Thread Tools Show Printable Version Email this Page Display Modes Linear Mode Switch to Hybrid Mode Switch to Threaded Mode Similar Threads Thread Thread Starter Forum Replies Last Post krausebj0 Applied Math 1 October 1st, 2013 03:47 PM rage Algebra 2 September 14th, 2012 09:27 PM agro Probability and Statistics 3 August 27th, 2009 06:17 AM kat New Users 1 October 3rd, 2008 04:41 AM

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