In the span from last summer to November, the price of tomatoes increased by 76.92%. This percentage increase was calculated by finding the difference between the two prices (November - Last summer) and dividing it by the initial price (Last summer).
The price of tomatoes rose from $.65 per pound last summer to $1.15 per pound in November. To calculate the percentage increase, the formula is:
[(New Value - Original Value) / Original Value] * 100
Substituting the given values, the calculation
[(1.15 - 0.65) / 0.65] * 100
[0.50 / 0.65] * 100 = 76.92%
Therefore, the percent increase in the price of tomatoes during this period was 76.92%.
This means that the cost of tomatoes nearly doubled over the specified period. The percentage increase provides a quantitative measure of the price change, allowing consumers and analysts to gauge the extent of the rise.