Question

A ​used- boat dealership buys a boat for ​$2700 and then sells it for ​$4700. What is the percent​ increase?

Answer 1

To calculate the percent increase in the price of a boat bought for $2,700 and sold for $4,700, find the increase in value ($2,000), divide by the original price, and multiply by 100, resulting in a 74.07% increase.

Step-by-step explanation:

The question involves calculating the percent increase in the price of a boat. The boat was originally bought for $2,700 and sold for $4,700. To find the percent increase, you subtract the original price from the selling price to get the increase in value, and then divide that by the original price. You multiply the result by 100 to get the percentage.

Step-by-step Calculation

1. Calculate the increase in value: $4,700 - $2,700 = $2,000.
2. Divide the increase in value by the original price: $2,000 / $2,700 ≈ 0.7407.
3. Multiply by 100 to get the percent increase: 0.7407 * 100 = 74.07%.

Therefore, the percent increase in the price of the boat is 74.07%.