Chapter 6, Problem 31CR

To determine

To state whether the percent of change is an increase or decrease.

Answer to Problem 31CR

Percent increase34.53%

Explanation of Solution

Given:

Initial value: $55.75

New value: $75.00

Formula used:

  $\begin{array}{l}\%\text{ Increase}=\frac{\text{New value}-\text{Initial value}}{\text{Initial value}}\times 100\\ \%\text{ Decrease}=\frac{\text{Initial value}-\text{New value}}{\text{Initial value}}\times 100\end{array}$

Calculation:

The value is changing from $55.75 to $75.00

Therefore, the value is increasing from $55.75 to $75.00

  $\begin{array}{c}\%\text{ Increase}=\frac{\text{New value}-\text{Initial value}}{\text{Initial value}}\times 100\\ =\frac{75.00-55.75}{55.75}\times 100\\ =\frac{19.25}{55.75}\times 100\\ =34.529\end{array}$

Rounding off to the nearest cent,

  $\%\text{ Increase}=34.53$

Conclusion:

Therefore, the increase in percent of 34.53%.