Question

A gallon of milk cost $2.79 in the year 2000. In 2015, it cost $3.98. What is the percent of change of the gallon of milk from 2000 to 2015?

Answer 1

To calculate the percent change in the price of a gallon of milk from 2000 to 2015, we can use the following formula:

Percent Change = ((New Value - Old Value) / Old Value) * 100

Old Value (2000) = $2.79

New Value (2015) = $3.98

Applying the values to the formula, we have:

Percent Change = ((3.98 - 2.79) / 2.79) * 100

Calculating the numerator:

3.98 - 2.79 = 1.19

Calculating the percent change:

Percent Change = (1.19 / 2.79) * 100

Percent Change ≈ 42.65

Therefore, the percent change in the price of a gallon of milk from 2000 to 2015 is approximately 42.65%.