Certainly! Let's go through the problem step-by-step.
Initially, the price of the shift was [tex]$2000 in the year 2021.
1. Price Increase in 2022:
The price increased by 20% in 2022. To calculate the new price for 2022, we need to add 20% of the initial price to the initial price itself.
To find 20% of the initial price:
\[
20\% \text{ of } 2000 = 0.20 \times 2000 = 400
\]
Therefore, the price in 2022 is:
\[
2000 + 400 = 2400
\]
2. Price Increase in 2023:
The price increased by 10% in 2023 from the 2022 price. Again, we need to add 10% of the 2022 price to the 2022 price itself.
To find 10% of the 2022 price:
\[
10\% \text{ of } 2400 = 0.10 \times 2400 = 240
\]
Therefore, the price in 2023 is:
\[
2400 + 240 = 2640
\]
So, the price of the shift in the year 2023 is \( \$[/tex]2640 \).
