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Suppose I have $\$100$ and it increased $2850\%$. How much money will I have?

Can you also share the formula? thanks.

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2 Answers 2

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$2850\%=28.5$, so if you have 100 and it increases 2850% you have 2950 as $100(1+28.5)=2950$.

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The formula is pretty simple:

$P = P_0(1 + r)$

with

$P$ = Final Principal
$P_0$ = Initial Principal
$r$ = Percentage increase (as a decimal).

Why is this true? Let's expand:

$P = P_0(1 + r) = P_0 + rP_0$

Now, think about it... $rP_0$ is how much the original amount increased, and $P_0$ is the initial amount. Adding them together, and we get the new total.

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