Respuesta :
Given that:
- The standard bus fare was $1.50 in 1995.
- The standard bus fare was $2.40 in 2008.
You need to use the following formula, in order to find the percent increase:
[tex]PercentageIncrease=\frac{Final\text{ }Value-Initial\text{ }Value}{|Initial\text{ }Value|}\cdot100[/tex]In this case, you can identify that:
[tex]\begin{gathered} Final\text{ }Value=2.40 \\ Initial\text{ }Value=1.50 \end{gathered}[/tex]Therefore, substituting values into the formula and evaluating, you get:
[tex]\begin{gathered} PercentageIncrease=\frac{2.40-1.50}{|1.50|}\cdot100 \\ \\ PercentageIncrease=\frac{0.9}{1.50}\cdot100 \end{gathered}[/tex][tex]\begin{gathered} PercentageIncrease=0.6\cdot100 \\ \\ PercentageIncrease=60\text{ \%} \end{gathered}[/tex]Hence, the answer is:
[tex]PercentageIncrease=60\text{ \%}[/tex]