Question

Mrs. Carter decides to buy a computer system for her son. She spends \(1,500 for a computer and LCD monitor, \)650 for a color laser printer, and $250 for an external hard drive. What would be the total cost of the system if the cost of the computer and monitor were 10% more?

Short answer

The total cost of the system with the computer and monitor costing 10% more is \$2,550.

Step-by-step solution

Find the increased cost of the computer and monitor

Calculate 10% of the original cost of the computer and LCD monitor and then add it to its current price. The original cost is $1,500. Therefore, the increased price can be calculated as: \(Increased \, Price = Original \, Price + 10\% \, of \, Original \, Price\)

Calculate the 10% increased price

To find the 10% of the original price, we multiply the original price by 0.1. \(10\% \, of \, \$1,500 = \$1,500 * 0.1 = \$150\) Now, add this increase to the original price to find the increased price: \(Increased \, Price = Original \, Price + 10\% \, increase\) \(Increased \, Price = \$1,500 + \$150 = \$1,650\)

Calculate the total cost

Add the prices of all the items: increased price of the computer and monitor, color laser printer, and external hard drive to find the total cost. \(Total \, Cost = Increased \, Price \, of \, computer \, and \, monitor + Laser \, Printer + External \, Hard \, Drive\) \(Total \, Cost = \$1,650 + \$650 + \$250 = \$2,550\) So, the total cost of the system with the computer and monitor costing 10% more is $2,550.

Key concepts

Total Cost Calculation

In the context of purchasing a computer system, determining the total cost involves adding up the prices of each component. Mrs. Carter is buying three items: a computer and LCD monitor, a color laser printer, and an external hard drive.
To find the total cost, you begin by considering any changes in pricing. In this scenario, the price of the computer and monitor increased by 10%.

• The original cost of the computer and monitor is $1,500. By calculating a 10% increase, the new price is $1,650.
• The printer costs $650, and the external hard drive costs $250.

To get the final total cost, you sum these prices:

• Total cost = $1,650 (computer and monitor) + $650 (printer) + $250 (external hard drive) = $2,550.

Breaking down the process like this clarifies how additional costs, such as percentage increases, can impact the overall spending.

Mathematics Problem Solving

Solving math problems often involves breaking down complex processes into manageable steps. In the given problem, each part of the problem was handled systematically: identifying the components, calculating the required percentages, and summing the expenses.
Step-by-Step Method:

• Identify the Value: Begin by knowing the values involved in the problem. Here, we knew the prices of the computer and monitor, the printer, and the hard drive.
• Percentage Calculation: The question requires understanding how to calculate a percentage increase. Calculate 10% of the computer and monitor's original price, which is $150.
• Add Increase to Initial Cost: Adding this $150 to $1,500 gives the new price, $1,650.
• Solve for Total Cost: Finally, add all present values to get the total expected expense, which turned out to be $2,550.

Utilizing such a structured approach ensures no steps are overlooked, leading to an accurate solution.

Consumer Mathematics

Consumer mathematics focuses on practical applications of mathematical skills in everyday financial decisions, like buying goods and services. The problem Mrs. Carter faced is a typical example of applying consumer mathematics.
Key Concepts to Remember:

• Understand Price Adjustments: Percentage increases or discounts are common in retail. Knowing how to calculate these can help understand changes in price.
• Total Expense Awareness: Always factor in any additional costs or changes in pricing to accurately understand the total cost of purchases.
• Budget Management: Awareness of all costs involved means better budgeting and financial planning when deciding on purchases.

This exercise underlines the need for these skills in real-world scenarios, enabling smarter financial decisions and more effective budgeting.