In 1992, Jason bought a gallon of gas for $1.25. Yesterday, he bought a gallon of gas for $2.13. What is the percentage increase of the price of a gallon of gas from 1992 to yesterday? If necessary, round to the nearest tenth of a percent.
actual increase = 0.88
% increase = 0.88/1.25 = 0.704 = 70.4%
To find the percentage increase of the price of a gallon of gas from 1992 to yesterday, we need to calculate the difference in prices, divide by the original price, and then multiply by 100 to get the percentage.
First, we find the difference in prices:
$2.13 - $1.25 = $0.88
Next, we divide the difference by the original price:
$0.88 / $1.25 ≈ 0.704
Finally, we convert the decimal to a percentage by multiplying by 100:
0.704 * 100 = 70.4
So, the percentage increase of the price of a gallon of gas from 1992 to yesterday is approximately 70.4%.