Question

Last week's gas prices at a local gas station decreased by 2% this Monday, but by this current weekend, they have increased by 1%. The current price this weekend is? % of last week's prices before the changes. (Round to the nearest tenth.)

Answer 1

Assuming the last weeks price is 100 then it decrease by 2% So the price is 100 ( 1 – 0.02) = 98 Then it increase again by 1% so the price would be 98 ( 1 + 0.01) = 98.98 So it is ( 98.98/ 100) x 100 = 98.98 % of the price before it change