K & R Builders build three models of houses, M₁, M₂, and M₃, in three subdivisions I, II, and III located in three different areas of a city. The prices of the homes (in thousands of dollars) are given in matrix A.

M₁

M₂

M₃

I

	340	370	350
430	410	460
660	610	700

A =

II

III

The new price schedule for next year, reflecting a uniform percentage increase in each house, is given by matrix B.

M₁

M₂

M₃

I

	360.4	392.2	371
455.8	434.6	487.6
699.6	646.6	742

B =

II

III

What was the percentage increase in the prices of the houses? Hint: Find r such that (1 + 0.01r)A = B.