Due to a bad crop year, the cost of cherries is projected to increase 133% this year. A pound of cherries currently costs $2.16. What can you expect the new price per pound to be?

To solve this problem, or one of sorts, you can multiply the current price (2.16) by 1.33 (the percentage as a decimal).

2.16*1.33 = 2.8728

Round to two decimal places (and that’s the number of decimal places for money), and you can expect the new price per pound of cherries to be about $2.87.