In 1992, Jason bought a gallon of gas for $1.25. Yesterday, he brought a gallon of gas for $2.25. What is the percentage increase of the price of a gallon of gas for $2.25. What is the percentage increase of the price of a gallon of gas from 1992 to yesterday ? If necessary round to the nearest tenth of a percent.
Accepted Solution
A:
The percentage increase of the price of a gallon of gas from 1992 to yesterday is 80%.
First, to find the percentage increase, you want to subtract the original price ($1.25) from the new price ($2.25) to find the increase.
$2.25 - $1.25 = $1.00
Then, you want to divide the original price ($1.25) from the increase ($1.00) and multiply by 100. We multiply by 100 to convert the decimal to a percent.
1.00 ÷ 1.25 × 100 = 80%
The percentage increase of the price of a gallon of gas from 1992 to yesterday is 80%.