Question

What is the formula for Percent Increase/Decrease?

When driving past the gas station earlier, I noticed that gas was $2.18 a gallon. On my way back home, the gas was $2.48 a gallon. What was the % increase in the price of gas rounded to the nearest tenth?

Answer 1

Percentage increase in the price of gas rounded to the nearest tenth in 13.8%

Solution:

Percent increase and percent decrease are measures of percent change, which is the extent to which a variable gains or loses value

The figures are arrived at by comparing the initial (or before) and final (or after) quantities according to a specific formula.

The formula for percentage increase\decrease is given as:

`\text { percentage increase } \backslash d e c r e a s e=\frac{\text { final value-initial value}}{\text { initial value }} * 100`

If the result is positive, it represents increase in percentage

If the result is negative, it represents decrease in percentage

Given that I noticed that gas was $2.18 a gallon

On my way back home, the gas was $2.48 a gallon

So here initial value = 2.18 and final vlaue = 2.48

`\begin{array}{l}{\text { percentage increase }=(2.48-2.18)/(2.18) * 100} \\\\ {\text { percentage increase }=0.1376 * 100=13.76 \%}\end{array}`

Thus % increase in the price of gas rounded to the nearest tenth in 13.8%