Question

Virginia buys a sculpture to display in her office. She paid $13,000 for the sculpture. A year later, the sculpture is appraised for $16,900. Because of the artist's rising popularity, the art appraiser tells her she can expect to see the same percent increase for at least the next ten years.What is the percent increase? (not the growth factor, JUST the percent increase)

Answer 1

Set 13000 to be 100% (100%=1); then, if x is the corresponding percentage to 16900,

`\begin{gathered} (1)/(13000)=(x)/(16900) \\ \Rightarrow x=(16900)/(13000)=1.3=130\% \end{gathered}`

Therefore, the percentage increase is 130%-100%=30%. The answer is 30%