Answer:
182.8%
Explanation:
Since i have purchased the old record player 2 years ago at the price of $10 which is now selling for the price of the $79.99, the implied percentage in this case shall be determined as follows:
Future value=Present value(1+return percentage)^2
In the given question
Future value=$79.99
Present value= Price of old record player two year ago=$10
$79.99=$10(1+return percentage)^2
$7.999=(1+return percentage)^2
Taking square root on both sides
2.828=1+return percentage
2.828-1=Return percentage
Return percentage=1.828 or 182.8%
