A product's price increased from $150 to $180. What is the percentage increase i

A product's price increased from $150 to $180. What is the percentage increase in price?

A product's price increased from $150 to $180. What is the percentage increase in price?

Correct Answer: 20%

Step 1: Identify the original price of the product, which is $150.
Step 2: Identify the new price of the product, which is $180.
Step 3: Calculate the difference in price by subtracting the original price from the new price: 180 - 150.
Step 4: The difference in price is $30.
Step 5: Divide the difference by the original price: 30 / 150.
Step 6: The result of the division is 0.2.
Step 7: To find the percentage increase, multiply the result by 100: 0.2 * 100.
Step 8: The percentage increase is 20%.

Percentage Increase – The calculation of how much a value has increased in relation to its original value, expressed as a percentage.