Question

Eggs were $2.05 per dozen on January 1 and $2.00 per dozen on February 1. What percent did the price increase during January?

Answer 1

2.5%

Explanation:

The price increased from 2 to 2.05. So the increase was:

2.05 - 2 = 0.05 dollars

Now, to find percentage increase, we use the formula below:

`(New-Old)/(Old)*100`

Where

New is the latest price (here it is the increased price of 2.05)

Old is the previous price (here it is the less price of 2.00)

Now, we substitute and find:

`(2.05-2.00)/(2.00)*100=2.5`

So the price increase was 2.5%