Question

Arun bought a car for Rs. 350,000. The next year, the price went up to Rs. 370,000. What was the percentage of price increased?

Answer 1

Hint – Percentage increase is increment in price divided by original price and multiply the answer by 100 so, use this concept to reach the solution of the problem.
Given data
Arun bought a car for Rs. 350,000.
And in the next year, the price went up to Rs. 370,000.
So, increment in the price is $ = 370,000 - 350,000 = Rs.{\text{ }}20,000$
So, the percentage of price increased is the ratio of increment in the price divided by original price multiplied by 100.
Therefore percentage of price increased $ = \dfrac{{20,000}}{{350,000}} \times 100$
$ = \dfrac{2}{{35}} \times 100 = \dfrac{{40}}{7} = 5.714$Percent
So, this is the required percentage of price increase.

Note – In such types of questions first calculate the increment in price by subtracting the original price from the increased price then divide this quantity to the original price and multiply by 100 which is the required percentage of price increased.