Question

In 1992, Jason bought a gallon of gas for $1.25. Yesterday, he bought a gallon of gas for $2.18. What is the percentage increase of the price of a gallon of gas from 1992 to yesterday? If necessary, round to the nearest tenth of a percent.

Answer 1

74.4%

Explanation:

Given data

Initial price=$1.25

Final price= $2.18

Required

The percent increase

%increase= FInal-initial/ initial*100

substitute

%increase= 2.18-1.25/ 1.25*100

%increase= 0.93/ 1.25*100

%increase= 0.744*100

%increase= 74.4%

Hence the percent increase is 74.4%