Question

In 1930, the average cost for a gallon of gasoline was $0.25. In 2007, the average cost for a gallon of gasoline is $2.60. What is the percent of increase rounded to the nearest whole number?

Answer 1

`940%` increase

Explanation:

From `1930 " " rarr " " 2007`

`" "$0.25 " "rarr " "$2.60`

This is an increase of `$2.35`

`% "increase" = ("amount of increase")/{"original amount") xx 100%`

`= ($2.35)/($0.25) xx 100%`

`= 940%` increase

(This means it has increased by more than 9 times!)