To determine the percent of change, you can use the formula for percent change:
\[ \text{Percent Change} = \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \times 100 \]
In this case:
- The Old Value (cost) = $558
- The New Value (selling price) = $1499
Now, plug the values into the formula:
\[ \text{Percent Change} = \frac{1499 - 558}{558} \times 100 \]
Calculating the numerator:
\[ 1499 - 558 = 941 \]
Now, calculate the fraction:
\[ \frac{941}{558} \approx 1.684 \]
Finally, multiply by 100 to get the percent change:
\[ 1.684 \times 100 \approx 168.4% \]
Rounding to the nearest whole percent, the percent of change is:
168%.