A product's price increased from $80 to $88. What is the percentage increase in

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Question: A product\'s price increased from $80 to $88. What is the percentage increase in price?

Options:

Correct Answer: 12%

Solution:

Percentage increase = ((88 - 80) / 80) * 100 = (8 / 80) * 100 = 10%.

A product's price increased from $80 to $88. What is the percentage increase in price?

A product's price increased from $80 to $88. What is the percentage increase in price?

Step 1: Identify the original price of the product, which is $80.
Step 2: Identify the new price of the product, which is $88.
Step 3: Calculate the difference in price by subtracting the original price from the new price: 88 - 80 = 8.
Step 4: Divide the difference in price (8) by the original price (80): 8 / 80.
Step 5: Calculate the result of the division: 8 / 80 = 0.1.
Step 6: Convert the result into a percentage by multiplying by 100: 0.1 * 100 = 10%.
Step 7: The percentage increase in price is 10%.

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