Answer: Percent increase = 11.11%
Concept:
Here, we need to know how to find the percentage of increase.
<u>Percent increase</u> is a measure of percent change, which is the extent to which something gains value.
Percent increase = [(final value - initial value) / initial value] × 100%
Solve:
<u>Given information</u>
Initial value = $18
Final value = $20
<u />
<u>Given expression</u>
Percent increase = [(final value - initial value) / initial value] × 100%
<u>Substitute values into the expression</u>
Percent increase = [(20 - 18) / 18] × 100%
<u>Simplify values in the parentheses </u>
Percent increase = [2 / 18] × 100%
<u>SImplify by multiplication</u>
Percent increase = 11.11 % (Rounded to the hundredth place)
Hope this helps!! :)
Please let me know if you have any questions