In Toronto, the price of a new bungalow in1968 was $25 000. In 2004, the price of this bungalow had increased to $400 000. What was the percent increase in price?
The percent increase is 340%.
400,000 / 25,000 = 16 - 1 x 100 = 1,500% - increase in price from 1968 to 2004.
