Answer:
[tex]\%Increase = 8.29\%[/tex]
Step-by-step explanation:
Given
[tex]Initial = \$7613[/tex]
[tex]New = \$8244[/tex]
Required
Calculate the percentage increase
This is calculated using:
[tex]\%Increase = \frac{New - Initial}{Initial} * 100\%[/tex]
[tex]\%Increase = \frac{8244 - 7613}{7613} * 100\%[/tex]
[tex]\%Increase = \frac{631}{7613} * 100\%[/tex]
[tex]\%Increase = \frac{63100}{7613}\%[/tex]
[tex]\%Increase = 8.29\%[/tex] --- approximated
Hence, the percentage increase is 8.29%
