note: please make sure to properly format your answers. all dollar figures in the answers need to include…

note: please make sure to properly format your answers. all dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06)\n\nin september 1997, the average cost for 1 gallon of home heating oil in new york city was $1.192 per gallon. by september 2008, it had risen to $4.173 per gallon. (by march 2016, it was down to $2.30) what was the percent increase in the 11 years from 1997 to 2008? round to the nearest percent.

note: please make sure to properly format your answers. all dollar figures in the answers need to include the dollar sign and any amount over 1,000 should include the comma ($2,354.67). all percentage values in the answers need to include a percentage sign (%). for all items without specific rounding instructions, round your answers to two decimal places, show both decimal places (5.06)\n\nin september 1997, the average cost for 1 gallon of home heating oil in new york city was $1.192 per gallon. by september 2008, it had risen to $4.173 per gallon. (by march 2016, it was down to $2.30) what was the percent increase in the 11 years from 1997 to 2008? round to the nearest percent.

Answer

Explanation:

Step1: Identify the formula for percent - increase

Percent increase=$\frac{\text{New value}-\text{Old value}}{\text{Old value}}\times100%$

Step2: Substitute the given values

The old value (in 1997) is $1.92$ and the new value (in 2008) is $4.173$. So, $\frac{4.173 - 1.92}{1.92}\times100%=\frac{2.253}{1.92}\times100%$

Step3: Calculate the result

$\frac{2.253}{1.92}\times100%\approx1.1734\times100% = 117.34%$

Step4: Round to the nearest percent

Rounding $117.34%$ to the nearest percent gives $117%$

Answer:

$117%$