What is the percent increase if the price increased from $20 to $23?

Question

 What is the percent increase if the price increased from $20 to $23? 

Answer 1

Percent of change formula is (newPrice - oldPrice) / oldPrice, or more simply, amountOfIncrease / oldPrice. The answer will be a decimal (or how many hundredths). To change to a percent, multiply the answer by 100.

 

The formula will also work for percent decrease, by the way.

 

Try to calculate this and see if your answer is 15%.

 

Steps:

How much is the increase in dollars?

What is the old (or original) price?

Divide the two previous answers.

Multiply by 100 to change to a percent.