The price of gasoline goes up 6% on Monday night and then goes down 7% the following day. What is the net percentage change in the price of gasoline from Monday morning?
A) 1.0%
B) 2.0%
C) −1.4%
D) −1.0%

Question

Quizplus · Accepted Answer

Let's say the original price of gasoline was $100.
After the 6% increase, the new price is $106.
After the 7% decrease, the new price is $98.98.
The percent change from the original price to the final price is given by:

(final price - original price) / original price x 100%

= ($98.98 - $100) / $100 x 100%

= -1.02%

Therefore, the net percentage change in the price of gasoline from Monday morning is -1.02%, which is approximately -1.4% (rounded to one decimal place).
So, the correct option is C.

The Price of Gasoline Goes Up 6% on Monday Night