After one year on the job, Grady got a raise from $$ \$ 15.50 $$ to $$ \$ 16.12 $$ per hour. What was the percent increase in his hourly wage? The percent of increase was $$ \square \% $$.

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To find the percent increase in Grady's hourly wage, we can use the formula:

$$ \text{Percent Increase} = \left( \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \right) \times 100\% $$

Given:
- Old Value (hourly wage before the raise) = $15.50
- New Value (hourly wage after the raise) = $16.12

Substitute the values into the formula:

$$ \text{Percent Increase} = \left( \frac{16.12 - 15.50}{15.50} \right) \times 100\% $$

Now, we can calculate the percent increase in Grady's hourly wage.
Calculate the value by following steps:
- step0: Calculate:
  $$\frac{\left(16.12-15.5\right)}{15.5}\times 100$$
- step1: Remove the parentheses:
  $$\frac{16.12-15.5}{15.5}\times 100$$
- step2: Subtract the numbers:
  $$\frac{0.62}{15.5}\times 100$$
- step3: Divide the terms:
  $$\frac{1}{25}\times 100$$
- step4: Reduce the numbers:
  $$1\times 4$$
- step5: Simplify:
  $$4$$
The percent increase in Grady's hourly wage is calculated as follows: $$ \text{Percent Increase} = \left( \frac{16.12 - 15.50}{15.50} \right) \times 100\% $$ So, the percent increase is approximately $$ 4\% $$.

After one year on the job, Grady got a raise from \( \$ 15.50 \) to \( \$ 16.12 \) per hour. What was the percent increase in his hourly wage? The percent of increase was \( \square \% \).

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