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Work this travel problem based on the data provided in the table. Choose the correct answer.

\begin{tabular}{|l|l|}
\hline \multicolumn{1}{|c|}{ Travel Type } & \begin{tabular}{l}
Sample Round-Trip Fares \\
from New York to London
\end{tabular} \\
\hline First-Class Air Fare & [tex]$\$[/tex] 754.30[tex]$ \\
\hline First-Class Ship Fare & $[/tex]\[tex]$ 775.20$[/tex] \\
\hline Regular Economy Air Fare & [tex]$\$[/tex] 440.80[tex]$ \\
\hline Tourist Class Ship Fare & $[/tex]\[tex]$ 408.00$[/tex] \\
\hline Peak Season Economy Air Fare & [tex]$\$[/tex] 526.30[tex]$ \\
\hline Peak Season Tourist Class Ship Fare & $[/tex]\[tex]$ 470.25$[/tex] \\
\hline 14- to 21-Day Excursion Air Fare & [tex]$\$[/tex] 331.00[tex]$ \\
\hline 30-Day Excursion Ship Fare & $[/tex]\[tex]$ 345.95$[/tex] \\
\hline Charter Group (25 Persons or More) Air Fare & [tex]$\$[/tex] 331.00[tex]$ \\
\hline Charter Group (25 Persons or More) Ship Fare & $[/tex]\[tex]$ 306.00$[/tex] \\
\hline
\end{tabular}

What percentage increase occurs in the price of a round-trip economy ship fare from New York to London by electing to go in peak season economy air fare as opposed to a 30-day excursion fare?



Answer :

GinnyAnswer
To analyze the percentage increase in fare, we need to compare the Peak Season Economy Air Fare with the 30-Day Excursion Ship Fare provided in the table.

1. Identify the fares:
- Peak Season Economy Air Fare: \[tex]$526.30 - 30-Day Excursion Ship Fare: \$[/tex]345.95

2. Calculate the difference in fare:
[tex]\[ \text{Difference} = \text{Peak Season Economy Air Fare} - \text{30-Day Excursion Ship Fare} \][/tex]
[tex]\[ \text{Difference} = 526.30 - 345.95 = 180.35 \][/tex]

3. Compute the percentage increase:
[tex]\[ \text{Percentage Increase} = \left(\frac{\text{Difference}}{\text{30-Day Excursion Ship Fare}}\right) \times 100 \][/tex]
[tex]\[ \text{Percentage Increase} = \left(\frac{180.35}{345.95}\right) \times 100 \][/tex]
[tex]\[ \text{Percentage Increase} \approx 52.13\% \][/tex]

In summary, the price of a round-trip economy ship fare from New York to London increases by approximately 52.13% when opting for a Peak Season Economy Air Fare instead of a 30-Day Excursion Ship Fare.

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