Question

Three years ago the average price of a movie ticket was $8.75 and now it is $11.00. What was the annual multiplier and the percent increase

Answer 1

Given:
Price of tickets:
3 years ago - 8.75 
now - 11

annual multiplier:

b³ = 11/8.75 
b = ∛11/8.75
b = 1.079

The annual multiplier is 1.079.

1.079 * 100% = 107.9%

107.9% - 100% = 7.9%

The percentage increase is 7.9%