# The average cost for a gallon of gasoline increased from $2.56 one year to$3.18 the next year. What is the percent of increase, rounded to the nearest whole number?

Oct 28, 2016

The change from $2.56 to $3.18 is an increase of 24%.

#### Explanation:

To find percent of change, use the formula:

(present value - old value)/(present value) * 100%

If the answer is negative, the change was a decrease. If the answer is positive, the change is an increase.

In this case, we obtain

(3.18 - 2.56)/2.56 * 100%

0.62/2.56 * 100%

0.2421875 * 100%
24.21875%

Rounding to the nearest whole number and since this result is positive, the percent of change is an increase of 24%.