The cost of admission to the State Fair changed from $8.50 last year to $10.00 this year. Round to the nearest tenth. Show your work
a.) What is the percent of change from last year to this year?
b.) Is this a percent of increase or decrease?
c.) If you have a 25% off coupon to use on the $10.00 ticket, what is the cost of your ticket?
a) The percent of change from last year to this year can be calculated using the formula:
Percent Change = ((New Value - Old Value) / Old Value) * 100
In this case, the old value is $8.50 and the new value is $10.00.
Percent Change = (($10.00 - $8.50) / $8.50) * 100
Percent Change = ($1.50 / $8.50) * 100
Percent Change = 0.1765 * 100
Percent Change = 17.65%
b) To determine whether this is a percent of increase or decrease, we can look at the sign of the percent change.
Since the percent change is positive (17.65%), it means there was an increase in the cost of admission from last year to this year.
c) To calculate the cost of the ticket with a 25% off coupon, we first need to calculate the discount amount:
Discount Amount = (25/100) * $10.00
Discount Amount = $2.50
To find the final cost of the ticket, we subtract the discount amount from the original price:
Final Cost = $10.00 - $2.50
Final Cost = $7.50
Therefore, with a 25% off coupon, the cost of the ticket will be $7.50.
% change is actual change divided by starting value.
+ is increase, - is decrease (though it must surely be obvious)
25% off means you pay 75%
a. (10.00/8.50) * 100% = 117.6%.
% Change = 117.6% - 100% =
b. The positive value means increase.
c. Pay 100% - 25% = 75%.
Cost =( 75%/100%) * 10.00 =