Answer:
The percentage of increase in fuel expenses is 20%
Step-by-step explanation:
Given:
Fuel expense in last year = $800
Fuel expense in this year = $960
To Find:
The percentage of increase
Solution:
Let the percentage increase be X
Then X =[tex]\frac{\text{final value}-\text{starting value}}{\text{starting value}}\times 100[/tex]
Now substituting the values we get,
[tex]X =\frac{960-800}{800}\times 100[/tex]
[tex]X =\frac{160{800}\times 100[/tex]
[tex]X =0.2 \times 100[/tex]
X= 20%
