Question

In 2023, my rent increased from $650 per month in 2020 to $1,300. Calculate the percentage change.

a) 10% increase
b) 100% decrease
c) 10% decrease
d) 100% increase

Answer 1

To calculate the percentage change in rent, subtract the original rent from the new rent, divide by the original rent, and multiply by 100. The rent increased from $650 to $1,300, which is a 100% increase. Therefore the correct answer is Option D.

Step-by-step explanation:

The question asks to calculate the percentage change in rent from $650 to $1,300. To find this, we subtract the original amount from the new amount and divide by the original amount, then multiply by 100 to get the percentage.

New Rent = $1,300
Original Rent = $650
Percentage Change = ((New Rent - Original Rent) / Original Rent) * 100

Percentage Change = (($1,300 - $650) / $650) * 100
Percentage Change = ($650 / $650) * 100
Percentage Change = 1 * 100
Percentage Change = 100%

Therefore, the rent has increased by 100%, and the correct answer is d) 100% increase.