Question

associated press online provided information from a fiscal analyst stating that during the past 20 years, the average after tax income of the wealthiest 1% of americans had grown from $263,700 to $677,900. what was the percent increase? Round to the nearest percent. ​

Answer 1

Answer:

The percent increase is 157%

Explanation:

Average after tax income 20 years before: $263,700

Average after tax income after 20 years: $677,900

Increased average after tax  income : $677,900-$263,700

                                                            =$414,200

Hence,  

Percent increase = $\frac{Increased amount}{original amount} \times 100$

=$\frac{414,200}{263,700} \times 100$

=157.07%

After Rounding off:

=157%

157%  is the percent increase