Question

The cost of a pound of nails increased from $2.18 to $2.37. What is the percent of increase to the nearest whole-number percent?

Answer 1

Answer:

9%

Explanation:

To calculate the percentage of the increase, use the formula below:

$\%\text{ of change}=\frac{\text{Final Value-Initial Value}}{\text{Initial Value}}\times100$

Substitute the given values:

$\begin{gathered} \text{Percent of change=}\frac{2.37-2.18}{2.18}\times100 \\ =\frac{0.19}{2.18}\times100 \\ =8.72 \\ \approx9\% \end{gathered}$

The percent of the increase is 9% (to the nearest whole number percent).