Chapter SH, Problem 7.6.7EP

To determine

To calculate:To find the percent of change and round to the nearest tenth, if necessary. Also, state whether the change is a percent of increase or percent of decrease

Answer to Problem 7.6.7EP

Percent of change $2.0\%$ and the change of percent of increase.

Explanation of Solution

Given information:from $\$750.75$ to $\$765.51$

Formula used:

Percent of change is calculated as

  $\%change=\left|\frac{Originalnumber-Newnumber}{Originalnumber}\right|\times 100$

Calculation:

Original number $=\$750.75$

New number $=\$765.51$

Percent of change is calculated as

  $\begin{array}{l}\%change=\left|\frac{750.75-765.51}{750.75}\right|\times 100\\ \%change=\frac{14.76}{750.75}\times 100\\ \%change=0.0196\times 100\\ \%change=1.96\%\\ \%change=2.0\%\end{array}$

Since original number is smaller than new number

Then, % change is percent of decrease

Conclusion:

Percent of change $2.0\%$ and the change of percent of increase.