Answer:
[tex]\£465.31[/tex]
Step-by-step explanation:
we know that
The insurance company reduces the price by 2.1%
Remember that
The actual cost of £475.29 a year represent the 100%
so
[tex]100\%-2.1\%=97.9\%=97.9/100=0.979[/tex]
To find out the new insurance cost, multiply the original cost by the factor 0.979
[tex]\£475.29(0.979)=\£465.31[/tex]
The cost of new insurance is £465.30 and this can be determined by using the unitary method.
Given :
The following steps can be used to determine the new insurance cost:
Step 1 - The unitary method can be used to determine the new insurance cost.
Step 2 - If the price of insurance is reduced by 2.1% then the remaining percentage is:
= 100 - 2.1
= 97.9%
Step 3 - If the 100% price of the insurance is £475.29 then the 97.9% is equal to:
[tex]=\dfrac{97.9}{100}\times 475.29[/tex]
Multiply 97.9 by 475.29 in the above expression.
[tex]=\dfrac{46530.891}{100}[/tex]
Further, simplify the above expression.
= £465.30
So, the cost of new insurance is £465.30.
For more information, refer to the link given below:
https://brainly.com/question/23368125
