The national average cost for gas in the year 2000 was 1.51 a gallon currently the average for a gallon of gas is 3.12. What is the percentage of change?

Answer 1

To calculate the percentage change in the price of gas from the year 2000 to the current average price, you can use the following formula:

\[ \text{Percentage Change} = \left( \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \right) \times 100 \]

In this case, the old value (2000 price) is $1.51 and the new value (current price) is $3.12.

Now, plug in the values:

\[ \text{Percentage Change} = \left( \frac{3.12 - 1.51}{1.51} \right) \times 100 \]

Calculating the difference:

\[ 3.12 - 1.51 = 1.61 \]

Now, divide by the old value:

\[ \frac{1.61}{1.51} \approx 1.065564 \]

Finally, multiply by 100 to convert to a percentage:

\[ 1.065564 \times 100 \approx 106.56 \]

So, the percentage change in the price of gas is approximately 106.56%.