Arun bought a car for ₹ 3,50,000. Next year, the price went up to ₹

Question

Arun bought a car for ₹ 3,50,000. Next year, the price went up to ₹ 3,70,000. What was the percentage of price increase?
[3 MARKS]

Answer:
:
Formula: 1Mark
Steps: 1 Mark
Answer: 1 Mark
Given that,
Original price = ₹ 3,50,000.
New price = ₹ 3,70,000.
Increase in the price = ₹3,70,000 -₹ 3,50,000.

∴

Increase in the price = ₹ 20,000

P e r c e n t a g e i n c r e a s e = \frac{I n c r e a s e i n t h e p r i c e}{o r i g i n a l p r i c e} \times 100

P e r c e n t a g e i n c r e a s e = \frac{20000}{350000} \times 100

P e r c e n t a g e i n c r e a s e = 5.714 %

The price of the car went up by 5.714

%

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