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Last month, the average price for half gallon of milk in Kroger was $2.05. Now this month, the average price for half gallon of milk in Kroger was $2.25. Which of the following could be used to calculate the percent of increase, p, in the price for half gallon of milk? 0.20 2.25 P 100 2.05 2.25 P 100

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EXPLANATION

The increase percentage formula is given by the relationship:

%Increase = 100* [(Final Value-Initial Value)/Initial Value]

We have that:

Initial Value = $2.05

Final Value = $2.25

Replacing terms:

%Increase = 100[(2.25-2.05)/2.05]

Simplifying:

% Increase= 100*(0.0975) = %9.75

The answer is %9.75

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