Question
The price of petrol is increased from R12.58 per litre to R13.28 per litre. Determine the percentage increase in the price
Answers
To determine the percentage increase, you can use the following formula:
Percentage Increase = (New Value - Old Value) / Old Value x 100
In this scenario, the old value is R12.58 and the new value is R13.28:
Percentage Increase = (13.28 - 12.58) / 12.58 x 100
Percentage Increase = 0.70 / 12.58 x 100
Percentage Increase = 0.0557 x 100
Percentage Increase = 5.57%
Therefore, the percentage increase in the price of petrol is 5.57%.
Percentage Increase = (New Value - Old Value) / Old Value x 100
In this scenario, the old value is R12.58 and the new value is R13.28:
Percentage Increase = (13.28 - 12.58) / 12.58 x 100
Percentage Increase = 0.70 / 12.58 x 100
Percentage Increase = 0.0557 x 100
Percentage Increase = 5.57%
Therefore, the percentage increase in the price of petrol is 5.57%.