Answer:
The percentage increase is 7.5%.
Step-by-step explanation:
Given,
The cost of renting the cottage last year = £400,
While its cost in present = £430,
So,
[tex]\text{Percentage change in cost}=\frac{\text{Present cost-Last year cost}}{\text{Last year cost}}\times 100[/tex]
[tex]=\frac{430-400}{400}\times 100[/tex]
[tex]=\frac{3000}{400}[/tex]
[tex]=7.5\%[/tex]
Hence, the percentage increase in cost is 7.5%.
