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1 vote
The cost of a pound of nails increased from $2.40 to $2.53. What is the percent of increase to the nearest whole-number percent?

User Dunfield
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1 Answer

3 votes

The formula to find the percent increase of two values is:


\text{ Percent Increase }=\frac{\text{ New price - Old price}}{\text{ Old price}}\cdot100

In this case, we have:


\begin{gathered} \text{ Old price }=\text{ 2.40} \\ \text{ New price }=\text{ 2.53} \end{gathered}
\begin{gathered} \text{ Percent Increase }=(2.53-2.4)/(2.4)\cdot100 \\ \text{ Percent Increase }=(0.13)/(2.4)\cdot100 \\ \text{ Percent Increase }\approx0.054\cdot100\Rightarrow\text{ The symbol }\approx\text{ is read 'approximately'} \\ \text{ Percent Increase }\approx5\% \end{gathered}

Therefore, the percent of increase to the nearest whole-number percent is 5%.

User KLHauser
by
6.9k points
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