Explanation:
100% = $8.00
1% = 100%/100 = 8/100 = $0.08
the price went up by $8.48 - $8.00 = $0.48.
how many % is this ?
as many % as 1% fits into this difference :
0.48 / 0.08 = 6%
the price increase was 6%.
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