Question

$\text{Arun bought a car for ₹3,50,000. The next year, the price went up to ₹3,70,000.}\text{What was the percentage increase in price?}\text{[3 marks]}$

Answer 1

$\text{Initial price = ₹350000}\text{Final price = ₹370000}\text{Increase in amount:}\text{₹}(37000-35000)\text{= ₹}20000\text{[1 mark]}\text{We know that, increase percentage}=\frac{\text{Increase in amount}}{\text{initial price}}\times 100\%\text{[0.5 mark]}\text{Hence, the percentage increase in price:}\Rightarrow \frac{₹20000}{₹350000}\times 100\%=5\frac{5}{7}\%\text{[1.5 marks]}$