Question

2. The Golds' home was assessed this year at a value of $162,000. Last year it had been assessed at $150,000. What are was the percent of increase?

Answer 1

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Answer 2

To find the percent increase in the value, we need to calculate the difference between the two values and then express it as a percentage of the original value.

The increase in value is: $162,000 - $150,000 = $12,000.

To find the percent increase, we divide the increase by the original value and multiply by 100:

Percent Increase = (Increase / Original Value) * 100 Percent Increase = ($12,000 / $150,000) * 100

Now, we can calculate the answer:

Percent Increase = (0.08) * 100 Percent Increase = 8%

Therefore, the percent increase in the value of the Golds' home this year compared to last year is 8%.