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Percent of change

Percent of change: word problems

At a supermarket, a certain item has increased from 75 cents per pound to 81 cents per pound. What is the percent increase in the cost of the item?

$Percent\;change=\frac{New\;Value\;-\;Old\;Value}{Old\;Value}x100$

$Percent\;Change=\frac{81\;-\;75}{75}x100=\frac{6}{75}x100=0.08x100=8%$

There was an 8% increase in the cost of the item.

If the price of gas increases from $1.00 per gallon to$1.21 per gallon, what is the percent of increase?

$Percent\;change=\frac{New\;Value\;-\;Old\;Value}{Old\;Value}x100$

$Percent\;Change=\frac{1.21\;-\;1.00}{1.00}x100=\frac{0.21}{1.00}x100=0.21x100=21%$

The percent of increase is 21%.

Howard bought a guitar for $40 and sold it for$78. What percent profit did Howard make on the guitar?

The percent of profit was %