Question

In one month, the median home price in the Southeast rose from $341,300 to $349,800. Find the percent increase.

Answer 1

Answer: Percent increase = 2.49%

Explanation:

Percent increase = increase/initial amount x 100

From the information given,

initial price = 341300

New price = 349800

Increase = 349800 - 341300 = 8500

Percent increase = 8500/341300 x 100

Percent increase = 2.49%