SOLUTION: If we raised $14,550 last year in a fundraising campaign and 19,400 this year what percentage increase is that? I think it has something to do with dividing the difference of 4850

Question 6669: If we raised $14,550 last year in a fundraising campaign and 19,400 this year what percentage increase is that? I think it has something to do with dividing the difference of 4850 by one of the numbers and I think it is a 25% increase but I wanted to check.
Thanks!
Monica
Answer by prince_abubu(198) (Show Source): You can put this solution on YOUR website!
We start with 14,500, right? And we don't know the percentage it increased by to get to 19,400. There is a formula that we can use:

is the starting value, r is the rate of increase (making the amount to increase by), and is the final price. We can plug in the values that they gave us and we can solve for r:

repeating, or about 33 1/3 % increase.

You would divide 4850 by the 14,550 - the value you started with, to get the 33 1/3 %. So, why choose the 14,550 and not the 19,400? Because the 4850 is the amount of increase from that base price 14,550. Another way to think about it is you know that 4850 increased 14,550 to the new value. So, it makes sense to check out what percentage of the original value this 4850 is, and gives you that 33 1/3 % increase.
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