The price of gold is often reported per ounce. At the end of 2005 , gold was \( \$ 513 \) per ounce. At the end of 2015 , it was \( \$ 1060 \) per ounce. By what percent did the price increase?

We begin by finding the amount by which the price increased: \[ \text{Increase} = 1060 - 513 = 547 \] Next, we calculate the percent increase relative to the original price: \[ \text{Percent Increase} = \frac{547}{513} \times 100\% \] Evaluating the fraction: \[ \frac{547}{513} \approx 1.0671 \] Thus, the percent increase is: \[ 1.0671 \times 100\% \approx 106.71\% \] Rounded to the nearest percent, the price increased by approximately \(107\%\).