Arun bought a car for ₹ 3,50,000. Next year, the price went up to ₹ 3,70,000. What was the percentage of price increase?
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Solution

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Steps: 1 Mark
Answer: 1 Mark

Given that,

Original price = ₹ 3,50,000.

New price = ₹ 3,70,000.

Increase in the price = ₹ 3,70,000 - ₹ 3,50,000.

$∴$ Increase in the price = ₹ 20,000

$P e r c e n t a g e i n c r e a s e = \frac{I n c r e a s e i n t h e p r i c e}{o r i g i n a l p r i c e} \times 100$

$P e r c e n t a g e i n c r e a s e = \frac{20000}{350000} \times 100$

$P e r c e n t a g e i n c r e a s e = 5.714 %$
The price of the car went up by 5.714 $%$

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