Hi All,
This question is really just about fractions and basic arithmetic, so you don't need a 'fancy' approach to solve it - you just need to do the necessary work on the pad.
We're told to start with an $81 microchip and that its price reduces by about 2/3 every 6 months. We're asked how long it takes for that chip to get to a $1 price. A few calculations should be all that's required to get to the answer:
Start: $81
Reducing this price by 2/3 means that 1/3 of the price will be left:
(1/3)(81) = 27
The price 6 months later is $27
We can repeat this same set of 'steps' again...
(1/3)(27) = 9
The price 12 months later is $9
(1/3)(9) = 3
The price 18 months later is $3
(1/3)(3) = 1
The price 24 months later is $1
Final Answer:
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