Answer :
Final answer:
The percentage increase in the price of gold from 2015 (£1159) to 2022 (£1802) is calculated to be approximately 55.5% after following the steps of subtracting the initial price from the final price, dividing by the initial price, and then multiplying by 100.
Explanation:
The question asks to calculate the percentage increase in the price of gold from 2015 to 2022. The average price of gold in 2015 was £1159, and in 2022, it was £1802. To find the percentage increase, first, calculate the difference in price between the two years, which is £1802 - £1159 = £643. Next, divide this difference by the original price from 2015 (£1159) and then multiply by 100 to get the percentage.
To calculate the percentage increase in the price of gold from 2015 to 2022:
Find the difference in prices: £1802 - £1159 = £643
Calculate the percentage increase: (£643 / £1159) x 100% ≈ 55.5%
The percentage increase in the price of gold from 2015 to 2022 is approximately 55.5%.
So, the calculation is (£643 / £1159) × 100, which equals approximately 55.5%. Thus, the price of gold increased by 55.5% from 2015 to 2022, when rounded to one decimal place.
