Question

During March 2020, the average price per gallon of gas was $2.92. During March 2022, the average price per gallon of gas was $4.17. What was the percent increase from March of 2020 to March of 2022? Round to the nearest tenth.

Answer 1

To calculate the percent increase from March of 2020 to March of 2022, we can use the formula:

Percent Increase = ((New Price - Old Price) / Old Price) x 100

Plugging in the values:

Percent Increase = (($4.17 - $2.92) / $2.92) x 100
Percent Increase = ($1.25 / $2.92) x 100
Percent Increase = 0.427 x 100
Percent Increase = 42.7%

Therefore, the percent increase from March of 2020 to March of 2022 was 42.7%.