If the price of a commodity increases from $20 to $25, what is the percentage in

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Question: If the price of a commodity increases from $20 to $25, what is the percentage increase in price?

Options:

Correct Answer: 20%

Solution:

Percentage increase = ((25 - 20) / 20) * 100 = 25%

If the price of a commodity increases from $20 to $25, what is the percentage increase in price?

If the price of a commodity increases from $20 to $25, what is the percentage increase in price?

Step 1: Identify the original price of the commodity, which is $20.
Step 2: Identify the new price of the commodity, which is $25.
Step 3: Calculate the difference in price by subtracting the original price from the new price: 25 - 20 = 5.
Step 4: Divide the difference in price (5) by the original price (20): 5 / 20 = 0.25.
Step 5: Convert the result from Step 4 into a percentage by multiplying by 100: 0.25 * 100 = 25%.
Step 6: The percentage increase in price is 25%.

Percentage Increase Calculation – This concept involves calculating the percentage change in a value, which is determined by the difference between the new and old values divided by the old value, multiplied by 100.