Question

Due to a bad crop year, the cost of cherries is projected to increase 133% this year. A pound of cherries currently costs $2.16. What can you expect the new price per pound to be?

Answer 1

To solve this problem, or one of sorts, you can multiply the current price (2.16) by 1.33 (the percentage as a decimal).

2.16*1.33 = 2.8728

Round to two decimal places (and that’s the number of decimal places for money), and you can expect the new price per pound of cherries to be about $2.87.