Final answer:
To find the percentage increase in the value of the painting, subtract the original value from the new value to find the increase, then divide this by the original value and multiply by 100. The percentage increase is 60%.
Step-by-step explanation:
The question asks us to calculate the percentage increase in the value of a painting that has risen from £120,000 to £192,000. To do this, we need to follow these steps:
- Find the increase in value by subtracting the original value from the new value: £192,000 - £120,000 = £72,000.
- Calculate the percentage increase by dividing the increase by the original value and then multiplying by 100 to get a percentage: (£72,000/£120,000) × 100 = 60%.
Therefore, the percentage increase in the value of the painting is 60%.