Question

What percentage increase occurs in the price of a round-trip economy ship fare from New York to London by electing to go in peak season tourist class as opposed to a 30-day excursion fare
Travel Type
Sample Round-Trip Fares
from New York to London
First-Class Air Fare
$754.30
First-Class Ship Fare
$775.20
Regular Economy Air Fare
$440.80
Tourist Class Ship Fare
$408.00
Peak Season Economy Air Fare
$526.30
Peak Season Tourist Class Ship Fare
$470.25
14- to 21-Day Excursion Air Fare
$331.00
30-Day Excursion Ship Fare
$345.95
Charter Group (25 Persons or More) Air Fare
$331.00
Charter Group (25 Persons or More) Ship Fare
$306.00

Answer 1

Answer:

The percentage increase is 35.93%

Explanation:

To find a percentage increase, we first have to evaluate the absolute difference involved. Let's check the two values:

Peak Season Tourist Class Ship Fare : $470.25

30-Day Excursion Ship Fare : $345.95

Absolute difference is: $470.25 - $345.95 = $124.30

Now, the question is about percentage increase.... so we have to divide this absolute difference by the lowest fare ($345.95):

%Diff = $124.30 / $345.95 = 0.3593

The percentage increase is then 35.93%