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

5.71%

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7.5%

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4.9%

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Solution

The correct option is A 5.71%
Percentage increase = $\frac{i n c r e a s e i n t h e p r i c e}{o r i g i n a l p r i c e} \times 100$

= $\frac{370000 - 350000}{350000} \times 100$

= $\frac{20000}{350000} \times 100$

=5.714 %

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