SOLUTION: The price of oil recently went from $7.20 to $9.20 per case of 12 quarts. Find the ratio of the increase in price to the original price

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Question 1035247: The price of oil recently went from $7.20 to $9.20 per case of 12 quarts. Find the ratio of the increase in price to the original price
Answer by Theo(13342) About Me  (Show Source):
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the old price is 7.20
the new price is 9.20

the increase over the old price is equal to new price - old price = 9.20 - 7.20 = 2.00.

the ratio of the increase to the old price is 2.00 / 7.20 = .277777778

in fraction form, that is equal to 5/18.

what this says is that the increase in price over the old price is equal to 5/18 * the old price.

5/18 * 7.20 = 2.00