Question

A pair of Jordans sold at retail for $180 and now sell for $330 after market. A. Is this a percent INCREASE or DECREASE, what is the PERCENT change?

Answer 1

This is a percent INCREASE

The percent change is 83.33%

Explanation:

Let us solve the question

∵ A pair of Jordans sold at retail for $180

∴ The initial price = 180

∵ Now it sells for $330 aftermarket

∴ The new price = 330

→ That means the new price is greater than the initial price

∵ The new price is greater than the initial price

∴ This is a percent INCREASE

∵ The percent of change = (amount of increase ÷ initial amount) × 100%

∵ The amount of increase = new price - initial price

∴ The amount of increase = 330 - 180 = 150

→ Substitute it in the rule of percent of increase above

∵ The percent change =
`(150)/(180)` × 100%

∴ The percent change =
`(5)/(6)` × 100%

∴ The percent change = 83.33%