Question

The price for a gallon of whole milk has increased from 2006 to 2008. from 2006 to 2007, the cost of whole milk increased by approximately 56%. from 2007 to 2008, the cost of milk whole milk increased by approximately 42%. if, on average, the cost for a gallon of whole milk nationwide was $1.99 at the beginning of 2006, determine the cost for a gallon of whole milk by the end of the year 2008. round your answer to the nearest cent

Answer 1

You have the starting price of $1.99. To get the increased price, divide 1.99 by .56 (.56 is the decimal form of 56%). You would get $3.55. This is for the year 2007. So for 2008, divide 3.55 by .42. The answer is $8.45. You can check the answers by multiplying the answers you go the the percentage. Ex. 8.45* .42=3.55 (rounded)