## Elementary Algebra

To find the percent change, we use the following formula: percent change = $\frac{New\ amount\ -\ Original\ amount}{Original\ amount}$ $\times$ 100% The original hourly rate of pay was 10.00 dollars. The new hourly rate of pay is 10.50 dollars. Substituting these values into the formula yields percent change = $\frac{10.50\ -\ 10.00}{10.00}$ $\times$ 100% percent change = $\frac{0.50}{10.00}$ $\times$ 100% percent change = 0.05 $\times$ 100% percent change = 5% Because the percent change is a positive number, it is a percent increase.