Percent increase = (new value - initial value) / initial value
In this case, the new value is seven dollars, and the initial value is six dollars
So 7-6= 1. Divide by 6 will give u 0.16. The percentage increase is calculated by multiplying the answer by 100. So 0.16*100 = 16%. So 16% is the percentage increase.
In order to verify our answer. We find 16% of 6 and add it to 6. So 6 + 0.96 = 6.96 -> 7. So we are correct