Question

The average tuition for a four year university was $7,613 in 2010. Average tuition increased to $8,244 in 2011. What was the percent increase in tuition from 2010 to 2011

Answer 1

`\%Increase = 8.29\%`

Explanation:

Given

`Initial = \$7613`

`New = \$8244`

Required

Calculate the percentage increase

This is calculated using:

`\%Increase = (New - Initial)/(Initial) * 100\%`

`\%Increase = (8244 - 7613)/(7613) * 100\%`

`\%Increase = (631)/(7613) * 100\%`

`\%Increase = (63100)/(7613)\%`

`\%Increase = 8.29\%` --- approximated

Hence, the percentage increase is 8.29%