The average price of gas in 2010 was $2.80 and in 2022 it is $4.76, what is the percent increase?

Question

Be sure to use the percent increase formula:

[(original - new) ÷ original] x 100 = percent increase

*
3 points
41%
70%
60%
57%

Answer 1

To find the percent increase using the formula:

\[ \text{Percent Increase} = \left(\frac{\text{new} - \text{original}}{\text{original}}\right) \times 100 \]

In this case:

• Original price (2010) = $2.80
• New price (2022) = $4.76

Now, we calculate:

1. Find the difference: \[ \text{new} - \text{original} = 4.76 - 2.80 = 1.96 \]

2. Divide by the original price: \[ \frac{1.96}{2.80} \approx 0.700 \]

3. Multiply by 100 to get the percent: \[ 0.700 \times 100 \approx 70% \]

Therefore, the percent increase in the price of gas from 2010 to 2022 is 70%.