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July 15th, 2015, 04:41 PM  #1 
Newbie Joined: Jul 2015 From: United States Posts: 14 Thanks: 0  I need help with an approximation question As you can see, I got the problem wrong. What I don't understand is the explanation. Where did 1.04 and 1.06 and 0.9 come from, I just want to be able to understand what is necessary to do with a problem like this. Thanks in advance. 
July 15th, 2015, 05:17 PM  #2 
Global Moderator Joined: Oct 2008 From: London, Ontario, Canada  The Forest City Posts: 7,913 Thanks: 1113 Math Focus: Elementary mathematics and beyond 
An increase of four percent is 104% * original value. 104% = 1.04.

July 15th, 2015, 10:05 PM  #3 
Newbie Joined: Jul 2015 From: United States Posts: 14 Thanks: 0  
July 16th, 2015, 05:30 AM  #4 
Math Team Joined: Jan 2015 From: Alabama Posts: 3,261 Thanks: 896 
NO. An "increase of 9%" is a change to 109% or 1.09. A decrease by 10% would be 100 10= 90% or 0.90. (I consider that a very confused question. They say "three transactions" but do not say that they were consecutive in the given order with the entire amount rather than three simultaneous transactions with part of the 20000. Also they start saying "you make three transactions" but end asking "what is the value of his money"!) 

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