Question

Shrimp cost $8 per pound last

week and $12 per pound this
week. What is the percent
change?

Answer 1

• 50% increase

----------------------

Change in price is:

• $12 - $8 = $4

Percent change is:

• 4/8 × 100% = 50%

Answer 2

Percent change= 50%

Explanation:

The formula for calculating percent change is:

`\boxed{\tt Percentage\: change=( (new \:cost- old\:cost) )/( old\:cost) * 100}`

In this case,

• The new cost is $12 per pound
• The old cost is $8 per pound.

So, the percent change is:

`\tt Percentage\:\:change=((12 - 8) )/( 8) * 100`

=50%

Therefore, the price of shrimp has increased by 50% from last week to this week.