Question

A Playstation 5 gaming console is initially priced at $500 and the prices rises such that the new price is $550. What is the percent increase of the Playstation 5? Show all work, write answer using proper units.

Answer 1

10%

Explanation:

Percentage increases is given by the formula:

`percentage \: increases = (increases)/(original \: value)`

Increases = $550 - $500 = $50

Original Value: $500

substitute the values into the formula

`percentage \: increases = (50)/(500) * 100`

= 10%