Question

In 1985, the price of a gallon of milk cost about $2.20 per gallon. In 2005, the price of a gallon of milk cost about $3.50 per gallon. What was the percent increase in the price of a gallon of milk from 1985 to 2005

Answer 1

the percent increase in the price of a gallon of milk from 1985 to 2005 is 59%

Define percent increase

Percent increase can be described as the rise in the value of an item, in this case the value is milk.

Write out the parameters

In 1985 the price of a gallon of milk is $2.20

In 2005 the price is $3.50

Formula for percent increase

new price-old price/new price × 100

Calculate the percent increase

new price= $3.50

old price= $2.20

= 3.50-2.20/2.20

= 1.3/2.20

= 0.59 × 100

= 59%

Hence the percent increase from 1985 t0 2005 is 59%

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