Question

Mark bought a concert ticket for $88, then sold it for $121. Find the percent of change and classify it as a percent increase or decrease. Round to the nearest tenth of a percent if necessary.

a) 37.5% increase
b) 27.3% increase
c) 37.5% decrease
d) 27.3% decrease

Answer 1

The percent of change is 37.5% increase.

Step-by-step explanation:

To find the percent of change, we need to calculate the difference between the selling price and the buying price, and then divide it by the original price. In this case, the difference is $121 - $88 = $33. The percent of change is therefore (33/88) * 100 = 37.5%. Since the percent is positive, it is a percent increase, so the correct answer is (a) 37.5% increase.