Question

The Bike Shop buys bicycles for $38 and sells them for $95. What is the percent increase in the price?

a) 150%
b) 40%
c) 60%
d) 250%

Answer 1

The percent increase in the price from $38 to $95 is 150%, calculated by the formula: ((New Price - Original Price) / Original Price) * 100.

Step-by-step explanation:

The question involves calculating the percent increase from the original price to the new price. To find the percent increase, you subtract the original price from the new price, then divide the result by the original price, and finally multiply by 100 to get the percentage.

So the calculation would be: ((New Price - Original Price) / Original Price) * 100 = Percent Increase

This gives us: (($95 - $38) / $38) * 100 = 150%

Therefore, the percent increase in the price from $38 to $95 is 150%, which corresponds to option (a).