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Percentile question

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Percentile question [#permalink] New post 21 Jun 2013, 08:20
Hi

Could someone help me understand this from the OG?

In the following example, the increase is greater than 100percent:

***

If the cost of a certain house in 1983 was 300 percent of its cost in 1970, by what percent did the cost increase?

If n is the costin 1970, then the percent increase is equal to 3n - n / n = 2, or 200%.


***
Why is this? Is this just a matter of nomenclature?

If something is 300 percent of its cost, doesn't that mean it is its cost * 300 percent? -- or a 300 percent increase?

Or is "percent increase" just always expressed as delta (n) / n ? (in which case it is 3n - n / n, regardless of the nomenclature confusion.

Also does this matter for the test?
Thanks!
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Re: Percentile question [#permalink] New post 21 Jun 2013, 08:58
Lets take help of some numbers..

Initially the cost of the house was 100.

After that the cost increased to 300% which is 300.

Now Question is asking by what % did the cost increase?

Formula of change of %= (300-100)/100 *100= 200 or 200%.
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Re: Percentile question   [#permalink] 21 Jun 2013, 08:58
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