Question

Due to the depreciation of the Rand, the import price of a particular raw material

rises from $22 562,25 per tonne to $25 507,59 per tonne. What was the
percentage increase in price (to two decimal places)?

Answer 1

13.05%

Explanation:

`\begin{aligned}\sf Percentage\:increase &= \sf(final\:value-initial\:value)/(initial\:value) * 100\\\\& = \sf (25507.59-22562.25)/(22562.25) * 100\\\\& = \sf (2945.34)/(22562.25) * 100\\\\& = \sf 0.1305428315 * 100\\\\& = \sf 13.05 \% \:(2\:dp)\end{aligned}`