The price of petrol is increased from R12.58 per litre to R13.28 per litre. Determine the percentage increase in the price

1 answer

To determine the percentage increase, you can use the following formula:

Percentage Increase = (New Value - Old Value) / Old Value x 100

In this scenario, the old value is R12.58 and the new value is R13.28:

Percentage Increase = (13.28 - 12.58) / 12.58 x 100
Percentage Increase = 0.70 / 12.58 x 100
Percentage Increase = 0.0557 x 100
Percentage Increase = 5.57%

Therefore, the percentage increase in the price of petrol is 5.57%.