Question

A season for your local ice hockey team cost £430. Last year it cost £400. What percentage increase is this?

a. 7.5%
b. 8%
c. 12.5%
d. 15%

Answer 1

The cost of the season pass increased from £400 to £430, which is a percentage increase of 7.5%. This is found using the percentage increase formula: ((New Value - Old Value) / Old Value) * 100%.

Step-by-step explanation:

To calculate the percentage increase in the cost of the local ice hockey team's season pass, we use the formula for percentage increase which is ((New Value - Old Value) / Old Value) * 100%. In this case, the Old Value is £400 and the New Value is £430.

Using the formula:

1. Calculate the difference between the New Value and the Old Value: £430 - £400 = £30.
2. Divide the difference by the Old Value: £30 / £400 = 0.075.
3. Multiply by 100 to find the percentage: 0.075 * 100% = 7.5%.

Therefore, the percentage increase in the cost is 7.5%.