Answer:
The percentage of increase = 40%
Explanation:
Formula:-
Percentage increase = ( Difference in value* 100)/Initial value
Difference = Final value - Initial vale
It is given that,
The price of an item is increased from $400 to $560
To find the increasing percentage
Here initial value = $400
Final value = $560
Difference = 560 - 400 = 160
Increasing percentage (160 * 100)/400 = 40%
Therefore percentage of increase in price = 40%