Answer
The percent change in the price of a bushel of grain is 230%.
It is a percent increase.
Work Step by Step
To find the percent change, we use the following formula:
percent change = $\frac{New\ amount\ -\ Original\ amount}{Original\ amount}$ $\times$ 100%
The original price was 12.00 dollars a bushel. The new price became 39.60 dollars a bushel. Substituting these values into the formula yields
percent change = $\frac{39.60\ -\ 12.00}{12.00}$ $\times$ 100%
percent change = $\frac{27.60}{12.00}$ $\times$ 100%
percent change = 2.3 $\times$ 100%
percent change = 230%
Because the percent change is a positive number, it is a percent increase.
