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Fortunate Inflation

Age 14 to 16 Short
Challenge Level

The price of an item in pounds and pence is increased by $4\%$.
The new price is exactly $n$ pounds where $n$ is a whole number.

What is the smallest possible value of $n$?





This problem is taken from the UKMT Mathematical Challenges.
You can find more short problems, arranged by curriculum topic, in our short problems collection.
The NRICH Project aims to enrich the mathematical experiences of all learners. To support this aim, members of the NRICH team work in a wide range of capacities, including providing professional development for teachers wishing to embed rich mathematical tasks into everyday classroom practice.
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