The cost of first-class postage in the United States increased approximately 5.4% in January of 2006 to 39 cents. What was the pre- January cost of the first-class stamp? Round your answer to the nearest penny.
Answer:
d. $0.37
Step-by-step explanation:
Let x be the pre-January cost of first class postage.
We have been given that the cost of first-class postage in the United States increased approximately 5.4% in January of 2006 to 39 cents.
This means that x plus 5.4% of x is equal to 39 cents ($0.39). We can represent this information in an equation as:
\(x+\frac{5.4}{100}x=0.39\)
Let us solve for x.
\(x+0.054x=0.39\)
\(1.054x=0.39\)
\(\frac{1.054x}{01.054}=\frac{0.39}{1.054}\)
\(x=0.3700189753\approx 0.37\)
Therefore, the pre-January cost of the first class stamp is $0.37 pennies and option d is the correct choice.