Final answer:
The price of a product increased from $20 to $29.60, which is an absolute increase of $9.60. The percentage increase is calculated by dividing the increase by the original price and then multiplying by 100, resulting in a 48% increase.
Step-by-step explanation:
To calculate the percentage increase in the price of a product that increased from $20 to $29.60, we first find the absolute increase by subtracting the original price from the new price. The increase is $29.60 - $20 = $9.60. Then, we divide the absolute increase by the original price and multiply by 100 to find the percentage. So, the percentage increase is ($9.60 / $20) * 100, which is 0.48 * 100 = 48%.
Based on this calculation, none of the given options (10%, 20%, 30%, 40%) is correct. The correct percentage of increase from $20 to $29.60 is 48%.