Question

In 2006, selected automobiles had an average cost of $19,000. the average cost of those same automobiles is now $34,200. what was the rate of increase for these automobiles between the two time periods?

Answer 1

The rate of increase for the two automobiles = $34,200 - $19,000 = $15,200.
$15, 200 / $19,000 = 0.8
Therefore, the rate of increase for the two automobiles is 80%.