Question

A savings account increases from 250$ to 270$. What is the percent increase of the savings account?

Answer 1

Percent Increase = 8%

Step-by-step explanation

Percentage Increase is given as

`\text{Percent Increase = }\frac{(New\text{ value) - (Old value)}}{Old\text{ value}}*100\text{ percent}`

New value = 270 dollars

Old value = 250 dollars

`\begin{gathered} \text{Percent Increase = }(270-250)/(250)*100\text{ percent} \\ \text{Percent Increase = }(20)/(250)*100 \\ =8\text{ percent} \end{gathered}`

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