Question

The price of an antique chair increased from $1,200 to $1,600. What was the percent of the increase? (Round to the nearest tenth).

Answer 1

Step 1: Write out the formula for percentage increase

`\text{percentage Increase=}\frac{\text{ Increase in price}}{\text{original price }}*100`

Step2: Identify the parametrs

`\begin{gathered} \text{Increase in price= \$1600-\$1200=\$ 400} \\ \text{Original price=\$ 1200} \end{gathered}`

Step3: substitute into the formula in step1

`\begin{gathered} \text{percentage Increase=}(400)/(1200)*100 \\ =(1)/(3)*100 \\ =(100)/(3)=33.33\text{ \%} \end{gathered}`

Therefore the percentage increase is 33.3% to the nearest tenth