Question

In 1970, the average cost of a gallon of gas was 0.36. In 2013, the average cost was 3.26. What is the percent change in price from 1970 to 2013? (Round to the nearest tenth)

Answer 1

The percent change in the cost of a gallon of gas from 1970 to 2013 is approximately 805.6%, which is calculated by finding the difference in price, dividing by the original price, and then multiplying by 100.

Step-by-step explanation:

To calculate the percent change in the price of a gallon of gas from 1970 to 2013:

• First, find the difference in price between the two years by subtracting the earlier price from the later price. This would be $3.26 - $0.36 = $2.90.
• Next, divide the difference by the original price (the price in 1970): $2.90 ÷ $0.36 = 8.0555...
• Finally, to find the percentage, multiply the result by 100: 8.0555... × 100 ≈ 805.56%.

Rounded to the nearest tenth, the percent change in the cost of a gallon of gas from 1970 to 2013 is approximately 805.6%.