how to find percent increase?

Question

When Mary and Jack bought their house, their property taxes were $3,630 annually. After 8 years, their property taxes are now $4,065.60. What percent increase is this?

Answer 1

To calculate the percent increase follow this 3 step formula:

 

1. The difference (or increase) between the current tax amount and the original tax amount:

    $4065.60 - $3630.00 = $435.60

 

2. The increase/original amount:

    $435.60/$3630.00 = 0.12

 

3. Multiply by 100, to calculate the percentage: 

    0.12 (100%) = 12.0%