Question

A retailer marks up the price of a coffee mug from $6.25 to $8.77. By what percent did the price increase?

(A) 28.73%
(B) 39.68%
(C)40.32%
(D)45.97%

Answer 1

The price of the coffee mug increased by 40.32% from $6.25 to $8.77. The increase is calculated by finding the difference in price, dividing by the original price, and then multiplying by 100.

Step-by-step explanation:

To calculate the percentage increase in price of the coffee mug, you first determine the difference in price between the new price and the original price. Then, divide the difference by the original price and multiply the result by 100 to get the percentage. Here is the step-by-step calculation:

• Find the difference in price: $8.77 - $6.25 = $2.52.
• Divide the difference by the original price: $2.52 / $6.25 = approx. 0.4032.
• Multiply by 100 to get the percentage: 0.4032 * 100 = 40.32%.

Therefore, the price of the coffee mug increased by 40.32%, which corresponds to option (C).