What percent did the March price increase to become the April price? (March = 15.50, April = 17.36)

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Multiple Choice

What percent did the March price increase to become the April price? (March = 15.50, April = 17.36)

Explanation:
To find how much the price increased in percent, compare the amount of the increase to the original price. The increase from March to April is 17.36 − 15.50 = 1.86. Now 1.86 is 0.12 of 15.50, since 15.50 × 0.12 = 1.86, so the percent change is 12%. Therefore, the April price is 12% higher than March's. Quick checks: 15.50 × 1.08 = 16.74, 15.50 × 1.06 = 16.43, and 15.50 × 2.12 = 32.86, none of which match 17.36 except the 12% increase.

To find how much the price increased in percent, compare the amount of the increase to the original price. The increase from March to April is 17.36 − 15.50 = 1.86. Now 1.86 is 0.12 of 15.50, since 15.50 × 0.12 = 1.86, so the percent change is 12%. Therefore, the April price is 12% higher than March's. Quick checks: 15.50 × 1.08 = 16.74, 15.50 × 1.06 = 16.43, and 15.50 × 2.12 = 32.86, none of which match 17.36 except the 12% increase.

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