Are you smarter than a 5th grader?
Calculating a percentage increase
Gas goes from $2.50 to $5.00 per gallon. Is it a:
· 50% increase
· 100% increase
· Double (200% increase)
· None of the above
Method 1:
Step 1: (New Price – Old Price)/Old Price = Percentage Change
Step 2: Multiply by 100 in case you need to change a percentage number to a whole number.
Method 2: New Price/(Old Price -1) x 100 = Percentage Increase
What would the new price be?
$3.00 per gallon - $3.25 per gallon
$3.50 per gallon None of the above
Method 1:
Current Price – (1 – %Change) = New Price
Or
$4.00 – (1-.20) = $3.25
Don’t get confused. It’s all logical.
And if you continue to have a problem remembering, ask a 5th grader!
Why does it matter?
Because IT matters!
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