Find the Percent change. Indicate whether it is an increase or a decrease. Round to the nearest percent. SOLVE AND SHOW WORK
29. The new car sells for $46,000. A comparably equipped one sold for $39,000 five years ago.
To find the percent change, we need to use the formula:
(percent change) = (change/original) x 100%
The change is the difference between the new and old prices:
change = 46,000 - 39,000 = 7,000
The original price is $39,000. So:
(percent change) = (7,000/39,000) x 100%
(percent change) = 0.1795 x 100%
(percent change) = 17.95%
The percent change is 17.95%. Since the new car sells for more than the comparably equipped one sold for five years ago, this is an increase. Rounded to the nearest percent, the answer is:
17.95% increase.