Question

A local community college has announced that they will be raising tuition costs from $27 per unit to $37 per unit. Determine the percent increase in tuition costs. Round your answer to the nearest tenth of a percent.

Answer 1

In determine the rate increase, we have the following formula:

$\text{rate}=\frac{\text{amount added or increased}}{\text{original amount}}\times100$

Since the original amount is $27 and it is raised to $37, that means the amount added to the original amount is $10. ($37 minus $27 = $10.

So, we have:

amount added = $10

original amount = $27

Let's plug this in to the formula above.

$\text{rate}=\frac{10}{27}\times100\approx37.0$

Therefore, the rate increase in percent in the original tuition's cost is 37.0%. An additional 37.0% has been added to the original cost.