Question

Arun bought a car for Rs.$3,50,000$. The next year, the price went up to Rs.$3,70,000$. What was the percentage of price increase?

Answer 1

Hint: Here, Arun bought a car for Rs.$3,50,000$and the next year, the price went up to Rs.$3,70,000$. So find the difference and then find the increase in percentage. Try it, you will definitely get the answer.

Complete step-by-step answer:
So here Arun bought a car for Rs.$3,50,000$and the next year, the price went up to Rs.$3,70,000$.
So, price of car last year$=$Rs $3,50,000$ and price of car this year$=$Rs $3,70,000$.
So the increase in price will be different between both.
Increase in price$=3,70,000-3,50,000$
Simplifying we get,
Increase in price$=$Rs $20,000$
Now we have to find the percentage increase in price,
So percentage increase in price$=$$\dfrac{\text{increase in price}}{\text{price of car last year}}\times 100%$
So percentage increase in price$=$$\dfrac{20,000}{3,50,000}\times 100%$
Now simplifying in simple we get,
percentage increase in price$=$$\dfrac{2}{35}\times 100%$
percentage increase in price$=$$2\times \dfrac{100}{35}%$
percentage increase in price$=$$2\times \dfrac{20}{7}%$
percentage increase in price$=$$\dfrac{40}{7}%$
We can write $\dfrac{40}{7}%$ as $5\dfrac{5}{7}%$.
Hence, the percentage increased in price is $5\dfrac{5}{7}%$.

Additional information:
In Maths, there are three major types of fractions. They are proper fractions, improper fractions and mixed fractions. Fractions are those terms which have numerator and denominator. And based on these two terms we define its types. A mixed fraction is the combination of a natural number and fraction. It is basically an improper fraction. Mixed fractions can always be converted into a fraction. The upper number is called Numerator, and the lower part is known as the Denominator. When a whole of something is divided into the number of parts, then each part is referred to as a fraction.

Note: You must know how to find the increase in price. Also, The formula of percentage increase must be known which is the percentage increase in price$=$$\dfrac{\text{increase in price}}{\text{price of car last year}}\times 100%$. The concept related to mixed fraction should be clear i.e. changing from mixed to simple fraction.