Certainly! Let's break down the solution to this problem step by step.
1. Identify the given values:
- The price of a 16-inch silver chain is [tex]$700.
- The price of a 12-inch silver chain is $[/tex]550.
2. Calculate the price difference between the two chains:
- Subtract the price of the 12-inch chain from the price of the 16-inch chain:
[tex]$700 (price of 16-inch chain) - $[/tex]550 (price of 12-inch chain) = [tex]$150.
- Therefore, the cost difference is $[/tex]150.
3. Calculate the length difference between the two chains:
- Subtract the length of the 12-inch chain from the length of the 16-inch chain:
16 inches (length of 16-inch chain) - 12 inches (length of 12-inch chain) = 4 inches.
- Therefore, the length difference is 4 inches.
4. Determine the cost per additional inch:
- To find the cost per additional inch, divide the cost difference by the length difference:
[tex]$150 (cost difference) ÷ 4 inches (length difference) = $[/tex]37.5.
So, the cost for each additional inch of the silver chain is $37.50.
