In Colombia the price of a gallon of gasoline was 9,000 pesos and after a year it becomes 14,200, what percentage of increase has been?
To find the percentage increase, we need to calculate the difference between the final and initial prices and then divide it by the initial price. Finally, we multiply the result by 100 to get the percentage.
The difference between the final and initial prices is: 14,200 - 9,000 = 5,200 pesos.
The percentage increase is: (5,200 / 9,000) * 100 = 57.78%.
Therefore, the price of gasoline in Colombia has increased by approximately 57.78%.
To calculate the percentage increase, you can use the following formula:
Percentage Increase = (( New Value - Old Value ) / Old Value ) * 100
Using the given information:
Old Value = 9,000 pesos
New Value = 14,200 pesos
Let's calculate the percentage increase step by step:
Step 1: Calculate the difference between the new and old values:
Difference = New Value - Old Value
= 14,200 - 9,000
= 5,200
Step 2: Calculate the percentage increase:
Percentage Increase = (Difference / Old Value) * 100
= (5,200 / 9,000) * 100
≈ 57.78
Therefore, the percentage increase in the price of gasoline in Colombia is approximately 57.78%.
To find the percentage increase, you can use the following formula:
Percentage increase = [(new value - initial value) / initial value] x 100
In this case, the initial value is 9,000 pesos and the new value is 14,200 pesos. Let's plug these values into the formula:
Percentage increase = [(14,200 - 9,000) / 9,000] x 100
The difference between the new value and the initial value is 14,200 - 9,000 = 5,200 pesos.
Now, divide this difference by the initial value:
Percentage increase = (5,200 / 9,000) x 100
Calculating this expression gives us:
Percentage increase ≈ 57.78%
Therefore, the percentage increase in the price of gasoline in Colombia is approximately 57.78%.