Question

The price of an item has risen to $294 today. Yesterday it was $120. Find the percentage increase.

Answer 1

The price of an item increased from $120 to $294. To find the percentage increase, you subtract the original price from the new price, divide by the original price, and multiply by 100. The item's price increased by 145%.

Step-by-step explanation:

To calculate the percentage increase in the price of an item, you subtract the original price from the new price and then divide by the original price. After that, you multiply by 100 to convert the fraction into a percentage.

Here is the calculation step by step:

1. Subtract the original price ($120) from the new price ($294): $294 - $120 = $174.
2. Divide the increase ($174) by the original price ($120): $174 / $120 = 1.45.
3. Multiply by 100 to get the percentage: 1.45 * 100 = 145%.

Therefore, the item's price has increased by 145% from yesterday to today.