Question

The price of an item was Rs25,000 last year. It was increased by 20 percent this year. What is the price of the item this year

Answer 1

$$\begin{gathered} \mathrm{Price}\mathrm{of}\mathrm{an}\mathrm{item}\mathrm{last}\mathrm{year}=\mathrm{Rs}25000 \\ \mathrm{Rate}\mathrm{of}\mathrm{increase}=20\% \\ \mathrm{Now},\mathrm{Final}\mathrm{price}=25000+20\%\mathrm{of}25000=25000+\frac{20}{100}\times 25000=25000+5000=\mathrm{Rs}30000 \end{gathered}$$