The median price of a new car has gone up from $20,000 last year to $21,500 this year.
What is the percent change?

Question

The median price of a new car has gone up from $20,000 last year to $21,500 this year.
What is the percent change?

kinged · Answer

Divide the higher number by the smaller number and multiply by 100.

kinged · Answer

Then subtract 100 from the answer to get the final answer.

don3 · Answer

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don3 · Answer

Kinged, justify your answer

agent0smith · Answer

@Don3 what he said is correct.

agent0smith · Answer

It isn't the typical method to find percent increase, but it is equivalent.

don3 · Answer

It has asked about the percent change.

kinged · Answer

The idea is for the person to see how much the bigger number is from the smaller number.
Here is come for explanation. You can find formulas everywhere else.

agent0smith · Answer

@Don3 that is exactly what Kinged's steps will give - the percent change.

don3 · Answer

I agree but his process makes the sum complicated.

don3 · Answer

That is not the correct approach to a problem.

mathstudent55 · Answer

Not only does kinged method works, it is much quicker than the regular method.

$\dfrac{21500}{20000} = 1.075$

From there you can already see the percent increase is 7.5%.

agent0smith · Answer

^yep, if you have number sense, it can save some time.

pphalke · Answer

I agree with @Don3 don't make things complicated @agent0smith

agent0smith · Answer

lol @pphalke EVERYTHING is complicated for you :P