Given:
a.) The price for a new iPhone today is $829.
b.) In 2010 it was $299 for the new iPhone.
To be able to determine the percent change of price, we will be using the following formula:
[tex]\text{ Percent of Change = }\frac{Price\text{ today - Price in 2010}}{\text{Price in 2010}}\text{ x 100}[/tex]We get,
[tex]\text{ = }\frac{\text{ \$829 - \$299}}{\text{ \$299}}\text{ x 100}[/tex][tex]\text{ = }\frac{\text{ \$530}}{\text{ \$299}}\text{ x 100}[/tex][tex]\text{ = 1.77257525084 x 100 = 1.77 x 100}[/tex][tex]\text{ Percent of Change = 177\% ; an increase}[/tex]Therefore, the percent of change in the price from 2010 and today is an increase of 177%.
