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

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

Options:

Correct Answer: 20%

Solution:

The increase in price is $180 - $150 = $30. The percentage increase is ($30 / $150) * 100 = 20%.

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

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

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 increase in price by subtracting the original price from the new price: $180 - $150.
Step 4: The result of the subtraction is $30, which is the increase in price.
Step 5: To find the percentage increase, divide the increase in price ($30) by the original price ($150): $30 / $150.
Step 6: The result of the division is 0.2.
Step 7: To convert the decimal to a percentage, multiply by 100: 0.2 * 100.
Step 8: The final result is 20%, which is the percentage increase in the price.

Percentage Increase – Calculating the percentage increase involves finding the difference between the new and old values, dividing by the old value, and multiplying by 100.