I now pay $1.87 a month for my prescription drug plan and it is going up next year to $10.60 a month. What kind of a percentage increase is that? And what is the correct procedure for arriving at an answer?
2006-10-30 06:16:28 · 4 answers · asked by a_blue_grey_mist 7 in Science & Mathematics ➔ Mathematics
It's a 467% increase
Let's say it was going up to $3.74/month. Divide 3.74 by 1.87 to get 2.0. Now subtract 1, to get 1, and multiply by 100 to get 100% increase.
So a doubling in price is a 100% increase.
Similarly with any increase, divide the new price by the old price (10.60/1.87 = 5.67), then subtract 1 (4.67), then multiply by 100 (467) to get the percent increase.
Hope that helped you!
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2006-10-30 06:28:40 · answer #1 · answered by djc 3 · 0⤊ 0⤋
Here is a formula
if x is to y
then z is to ?
(z*y)/x = your answer
1.87 = 100%
then 10.60 = ?
(10.60*100)/1.87 = 566.84%
This is including the initial amount so it would be 566.84-100 = 466.84% increase
2006-10-30 14:20:08 · answer #2 · answered by Anonymous · 0⤊ 0⤋
$1.87 is your original amount
$10.60 is your new amount
take the difference, and divide by original amount:
(10.60 - 1.87) = $8.73/$1.87 = 4.6684 * 100% = 466.84%
2006-10-30 14:25:24 · answer #3 · answered by sasmallworld 6 · 0⤊ 0⤋
($10.60/$1.87-1)*100%=467% increase.
2006-10-30 14:21:02 · answer #4 · answered by yupchagee 7 · 0⤊ 0⤋