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

Question

Quizplus · Accepted Answer

Let's assume the initial price of gasoline as $100.

After the 6% increase on Monday night, the new price becomes $106.

And then, after the 7% decrease today, the new price becomes $98.98.

So, the net percentage change can be calculated as follows:

(98.98-100)/100 x 100% = -1.02%

Therefore, the net percentage change in the price of gasoline from Monday is -1.02%, which is closest to -1.0%.

Hence, the best choice is option D.

The Price of Gasoline Goes Up 6% on Monday Night