"thecanadianrail"/Gerret is right. However, I would rather use steps of 0.2% - 0.3% grade, than of 0.5%.
"mdurdan", all you need is to start the line at a grade of 0.0% and then lay down some feet/meters of track and then change the grade value in the flyout in the down left corner of your screen to 0.3%. Always add another 0.3% of value to the existing one after some feet of track. The line will get steeper and steeper. Rember that values above 4.0% are unrealistic.
mdurdan wrote:How do I measure % and meters?
The game typically uses the metric system and railroad grades are in % in the US (it is different in Britain).
You will find that the bar at the bottom of your screen will tell you the length of a piece of track and its grade value if you hover your mouse over it. This only works in the track editor mode of the world editor.