Question

Troy bought Gabriella a diamond ring for $1,200.

It is now worth $1,380. By what percent did the
Value increase?

Answer 1

To find the percentage increase in value of the diamond ring, subtract the original price from the current value, divide this amount by the original price, and then multiply by 100. The diamond ring's value went up from $1,200 to $1,380, resulting in a 15% increase in value.

Step-by-step explanation:

The question asks us to find the percentage increase in the value of a diamond ring. To calculate the percent increase, we can use the formula:

Percentage Increase = ((New Value - Original Value) / Original Value) × 100%

Original Value (Purchase Price): $1,200

New Value (Current Worth): $1,380

Using the formula:

Percentage Increase = (($1,380 - $1,200) / $1,200) × 100%

Percentage Increase = ($180 / $1,200) × 100%

Percentage Increase = 0.15 × 100%

Percentage Increase = 15%

Therefore, the value of the diamond ring has increased by 15% since it was purchased.