Question

The price of an antique chair increased from $1,200 to $1,600. What was the percent of the increase? (Round to the nearest tenth).

Answer 1

SOLUTION

Step 1: Write out the formula for percentage increase

$\text{percentage Increase=}\frac{\text{ Increase in price}}{\text{original price }}\times100$

Step2: Identify the parametrs

$\begin{gathered} \text{Increase in price= \ 1600-\ 1200=\ 400} \\ \text{Original price=\ 1200} \end{gathered}$

Step3: substitute into the formula in step1

$\begin{gathered} \text{percentage Increase=}\frac{400}{1200}\times100 \\ =\frac{1}{3}\times100 \\ =\frac{100}{3}=33.33\text{ \%} \end{gathered}$

Therefore the percentage increase is 33.3% to the nearest tenth