You manage a construction company. Last month, you purchased 500 board feet of lumber for $2,475. This month, you shopped at a different store and purchased 600 board feet of the same type of lumber for $2,802.What is the approximate percent difference between the unit costs at each store?

The first store’s unit cost was $2,475 ÷ 500 = $4.95 per board foot. The second store’s unit cost was $2,802 ÷ 600 = $4.67 per board foot, a difference of about $0.28. Relative to the first store’s cost, that is ($0.28 ÷ $4.95) × 100 ≈ 5.7%, so the approximate percent difference is 5.7%.

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