Question

Pete Smith found in his attic a woody woodpecker watch in its original box. It had a price tag on it for $4.80. The watch was made in 1947. Pete brought the watch to an antiques dealer and sold it for $37. What was the percent of increase in price?

Answer 1

We know that

• The watch value was $4.80 in 1947.

,

• The watch value is $37 now.

To know the percentage of increase, we just have to divide

`(37)/(4.80)\approx7.71`

Then, we multiply by 100

`7.71\cdot100=771`

This means the new price represents 771% of the old price, that it's an increase of 671%.