Question

The price of a gallon of gas in one month was $2.60. The following month, the price was $2.99. What was the percent increase of the price of gas?

A 1.5%
B 13%
C 15%
D 39%

Answer 1

The percent increase in the price of gas is 15%.

Step-by-step explanation:

To calculate the percent increase in the price of gas, we need to find the difference between the new price and the original price, and then divide that difference by the original price. The formula for calculating percent increase is:

Percent Increase = (New Price - Original Price) / Original Price * 100

Using the given information, the original price of gas was $2.60 and the new price was $2.99. Plugging these values into the formula:

Percent Increase = ($2.99 - $2.60) / $2.60 * 100 = 0.39 / $2.60 * 100 = 0.15 * 100 = 15%