Question

Pete Smith found in his attic a Woody Woodpecker watch in its original box. It had a price tag on it for $4.50. The watch was made in 1949. Pete brought the watch to an antiques dealer and sold it for $35. What was the percent of increase in price? (Round to the nearest hundredth percent.)

Answer 1

Percentage Increase in the price = (Change in the price / Original Price ) x 100%

Change in the price = New Price - Original Price
Change in the price = 35 - 4.5 = $30.5

So,

Percentage Increase in the price = 30.5/4.5 x 100% = 677.78%

This means the price of the watch increased by 677.78%