Business Math Question Percents?

Question

OK, I don't want the answer, I just want someone to tell me the formula for figuring it out: The Saab Corperation raised the base price of it's popular 900 series by $1,200 to $33.500. What was the percent increase. Round to the nearest tenth percent. Thanks!

My bad, should be $33,500 hit period instead of comma

Answer 1

The price after the price increase is P2.
The price before is P1.
The price increase is I.

P1 + I = P2, of course.

The ratio P2/P1 is the decimal fraction of the price increase. Multiply that by 100 to get the percentage change, then subtract 100 to get the percentage increase.

(100*P2/P1) - 100 = percentage increase

Answer 2

There are a few tricks to setting up the equations -"what" is your variable (n), percent is over/100 or .00 if you'd rather work with decimals, "is" means =, "of" means multipy....if you know these you can work out any problem. Turn it into a statement first. This one would be "What percentage of 33,500 is 32,300?"
You'd set it up as n/100 x 33,500 =32,300 then solve. This gives you .964 or 96.4% That means that the percentage increase was 3.6% There are a few ways to set this up, and formulas that are easier, but if you understand the question and are able to work logically, this can help you answer all kinds of questions....PS Always check your work :)

Answer 3

Remember that percent shows "hundredths".
Example is 20% = 20/100 = .20 (twenty-hundredths) as decimal.
If you remember to use NewestValue/OriginalValue = Decimal Change (plus or minus).
Here you have 33,500 (newestvalue) / 32,300 (original value) =
1.037
The newest value is shown to be .037 times bigger than original.
To change this to percent, multiply the decimal by 100 to tell you how many hundredths (percent) this represents.
In this case, .037 x 100 = 3.7 hundredths, which is 3.7%.

Answer 4

1200 divided by 33,500

Turn this into a decimal, and the perecentage is easy.