Given
In this year, the average cost of a traditional Thanksgiving dinner for 10 people, featuring stuffing, cranberries, Turkey, pie, and trimmings, was $48.25.
A decrease of 1.86% from the cost in the last year.
To find: What was the average cost of a traditional Thanksgiving dinner in the last year?
Explanation:
It is given that,
In this year, the average cost of a traditional Thanksgiving dinner for 10 people, featuring stuffing, cranberries, Turkey, pie, and trimmings, was $48.25.
That implies,
Let x be the average cost in the previous year.
Then,
[tex]\begin{gathered} x-\frac{1.86}{100}x=48.25 \\ x-0.0186x=48.25 \\ 0.9814x=48.25 \\ x=\frac{48.25}{0.9814} \\ x=49.16 \end{gathered}[/tex]Hence, the average cost of a traditional Thanksgiving dinner in the last year is $49.16.
