Math question..I'm brain dead

[malibu4u]

If something cost $87.00 and then went up to $94.00, what is the percentage rate of the increase? What is the formula to figure this out. Thanks in advance

 

[KM2]

Re: Math question..I'm brain dead

(94-87)/ 87<br /><br />8%

 

[malibu4u]

Re: Math question..I'm brain dead

Tks KM2 for the quick reply

 

[Jack Shellac]

Re: Math question..I'm brain dead

Or you can divide 94 by 87 = 108%. It's 8% more than the original number.

 

[lakelivin]

Re: Math question..I'm brain dead

Another way to get there (for those who don't easily remember formulas, you can always 're-create' it):<br /><br />let X = the % increase, represented as a decimal (i.e., 25%=.25).<br /><br />87 + 87X = 94<br />87(1 + X) = 94<br /> *<br /> * <br />X = (94/87) - 1<br />X = .08046<br />Or, an 8.046% price increase.

 

[KRS]

Re: Math question..I'm brain dead

and for tomorrow's math class....

 

[tcube]

Re: Math question..I'm brain dead

Easy way: Ask Jeeves Calculator

 

[Andrew Leigh]

Re: Math question..I'm brain dead

Hi<br /><br />Curiously if you are in sales environment then one would tend to increase or "mark up goods" differently.<br /><br />87 x 1.08 = 93.96<br /><br />Say the customer was a good one and you decided to give him the old price which you had by now forgotten but you still remember the % increase then,<br /><br />93.96 * 0.92 = 86.44 or if you will 93.96 -(93.96 * 0.08) you would have lost 66c in that deal.<br /><br />If you were to take the 87 and mark up by the reciprocal then,<br /><br />87 / (1-.08) = 87 / .92 = 94.57 now if you were to offer him the same discount then,<br /><br />94.57 * 0.92 = 87.00 all square.<br /><br />Ah maths, it's all a little too clever for me.<br /><br />Cheers<br />Andrew

 

[Laddies]

Re: Math question..I'm brain dead

Andrew, you are right one is called precent of profit and the other is gross profit margin, I wish I could remember which is which but can't--Bob

 

[glasply1]

Re: Math question..I'm brain dead

The % increase is calculated by determining the amount of increase: 94-87= 7 Then divide the increase of 7 by the original price - 7/87 = 8.05%. The formula method shown in an earlier post comes up with the same answer. I rounded it off.