Question

Last year Jo paid £245 for her car insurance. This year she has to pay £883 for her car insurance. Work out the percentage increase in the cost of her car insurance.

Answer 1

The percentage increase in the cost of her car insurance is 260.4%

Explanation:

First, we are going to find by how much the insurance increased:

We know that this year she pays £883 and the last year she paid £245, so

insurance increase = £883 - £245

insurance increase = £638

Now, we are going to find what percentage of the last year price is the insurance increase. So, to find the percentage increase in the cost of the car insurance, we need to divide the insurance increase by the last year price and multiply the result by 100%

percentage increase =
`((638)/(245) )`(100%)

percentage increase = (2.604)(100%)

percentage increase = 260.4%

We can conclude that Jo's car insurance cost increased 260.4%