QuestionFind the percentage increase in the average cost of automobiles from \$16,000 to \$18,720. Rate of increase$\quad+\quad \%$

Studdy Solution
Calculate the rate of increase.
$$Rate\, of\, increase = \frac{\$2,720}{\$16,000} \times100\% =17\%$$The rate of increase for these automobiles between the two time periods is17%.