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

Answer:

13.05%

Step-by-step explanation:

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