Question

Arun bought a car for$Rs3,50,000$. Next year, the price went up to $Rs3,70,000$. What was the percentage of the price increase?

Answer 1

Given that,

Original price $=Rs3,50,000$

New price $=Rs3,70,000$

Increse in the price $=Rs3,70,000-Rs3,50,000$

$\therefore$ Increse in the price $=Rs20,000$

$\text{Percentage increase}=\frac{\text{Increase in the price}}{\text{original price}}\times 100$

$\text{Percentage increase}=\frac{20000}{350000}\times 100$

$\text{Percentage Increase}=5.714\%$
Hence, the price of the car went up by $5.714\%$