A product's price increased from $150 to $165. What is the percentage increase i

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Question: A product\'s price increased from $150 to $165. What is the percentage increase in price?

Options:

Correct Answer: 15%

Solution:

Percentage increase = ((165 - 150) / 150) * 100 = (15 / 150) * 100 = 10%.

A product's price increased from $150 to $165. What is the percentage increase in price?

A product's price increased from $150 to $165. What is the percentage increase in price?

Step 1: Identify the original price of the product, which is $150.
Step 2: Identify the new price of the product, which is $165.
Step 3: Calculate the difference in price by subtracting the original price from the new price: 165 - 150.
Step 4: The difference in price is $15.
Step 5: Divide the difference by the original price: 15 / 150.
Step 6: The result of the division is 0.1.
Step 7: To find the percentage increase, multiply the result by 100: 0.1 * 100.
Step 8: The percentage increase is 10%.

Percentage Increase – The percentage increase is calculated by taking the difference between the new and old values, dividing by the old value, and then multiplying by 100.