Question

A rare stamp is bought for $7800 and increases in value by $468. Show that the increase in value is 6%.

A) The increase in value is 6%.
B) The increase in value is 7%.
C) The increase in value is 8%.
D) The increase in value is 9%.

Answer 1

The increase in value of the rare stamp is 6%.

Step-by-step explanation:

The question is related to percentage.

To calculate the percentage increase in value of the rare stamp, we can use the formula:

Percentage Increase = (Increase in Value / Original Value) * 100%

In this case, the increase in value is $468 and the original value is $7800. Plugging these values into the formula:

Percentage Increase = (468 / 7800) * 100% = 0.06 * 100% = 6%

Therefore, the correct answer is A) The increase in value is 6%.