Chapter Twenty-Five: Lord Spittleworth's Problem
In Chapter twenty-five Lord Spittleworth is presented with yet another problem. Find out what he discovers in this chapter.
"Cornucopia was growing slowly poorer. The rich merchants had no problem paying their Ickabog taxes. They gave the collectors two ducats a month, then increased the prices on their pastries, cheeses, hams, and wines to pay themselves back. However, two gold ducats a month was increasingly hard to find for the poorer folk, especially with food at the markets more expensive."
Let's explore what the rise in prices actually meant for the people of Cornucopia with a little percentage challenge.
The rich merchants charged 20 Ducats for their food and wine.
I have inside information that each of the rich merchants raised the prices of their pastries, cheeses, hams and wines up 10% every week for 4 weeks.
To work out 10% we divide a number by 10.
To raise our prices, whatever answer get we add to the original number.
So 10% or 20 would be
20 divided by 10 = 2
20 + 2 = 22
Can you work out what the price would be if the rich merchants raised their prices every week for 4 weeks?