word problem

Question

The tuition at a local community college was ?$2497 in 1994 and? $2798 in 1996. Find the rate at which tuition was increasing.

Answer 1

Former tuition: $2497 in 1994

New tuition 2 years later: $2798.

 

Increase in tuition for 2 years: $2798 - 2497 = $301.

 

Dividing by the # of years, we get $301/2 years = $150.50 per year rate of increase.