Using a common factor

[Twilight]

Hello,
This may seem simple but I have been going round in circles

The question is:

You have $100
You add 3.5 %
Then you add 6% to that total.

IS there a common factor that you can use so that you don't have to do this in 3 steps each time ?

Thank you for ANY help

 

[JeffM]

Hello,
This may seem simple but I have been going round in circles

The question is:

You have $100
You add 3.5 %
Then you add 6% to that total.

IS there a common factor that you can use so that you don't have to do this in 3 steps each time ?

Thank you for ANY help

1.035 * 1.06 = 1.0971

 

[Twilight]

Thank you so much

 

[HallsofIvy]

If you start with A and it increases by 100r percent, then it increases by rA to A+ rA= (1+ r)A. If it further increases by 100p percent, then it increases by p(1+ r)A to (1+ r)A+ p(1+ r)A= (1+ r+ p+ rp)A. Notice the "non-linear" rp term.

Here, A= $100, r= .035, and p= .06. (But you would get the same result if you switched r and p.)

 

[Twilight]

Thank you .... I'm now trying to apply it to say $127 and getting craaazy answers !!

 

[JeffM]

Thank you .... I'm now trying to apply it to say $127 and getting craaazy answers !!

127 * 1.0971 = 139.3317

0.035 * 127 = 4.445

127 + 4.445 = 131.445

0.06 * 131.445 = 7.8867

131.445 + 7.8867 = 139.3317

What's craaazy about the answer?

 

[Twilight]

I can do it that way, but was trying to find a common denominator .... so that I didn't have to do;

3.5 % then 6% to that total ...

 

[Twilight]

got it - yes I am blonde thanks Jeff, you are great for taking the time !