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 percent of change?

Question

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Round to the nearest whole percent.

A
161% increase

B
107% increase

C
52% increase

D
207% increase

Answer 1

To find the percent change, you can use the formula:

\[ \text{Percent Change} = \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \times 100 \]

In this case, the old value for gas in the year 2000 is $1.51, and the new value is $3.12.

1. Calculate the change in value: \[ \text{Change} = 3.12 - 1.51 = 1.61 \]

2. Now calculate the percent change: \[ \text{Percent Change} = \frac{1.61}{1.51} \times 100 \approx 106.64% \]

Rounding it to the nearest whole percent, we get approximately 107%.

So, the answer is:

B 107% increase