Question

Jerry used to have $438.00 in the bank but after a year the amount increased to $534.36. This was an increase of _____%.​

Answer 1

This was an increase of 22%

Explanation:

Given:

Initial/Old amount = $438.00

New amount = $534.36

The percentage increase =
`(new amount - old amount)/(old amount)*100`

% increase =
`(534.36 - 438.00)/(438.00)*100`

`= (96.36)/(438.00)*100 = (96.36*100)/(438.00)`

`= (9636)/(438.00) = 22`

This was an increase of 22%.