If a gallery increases the price of an artwork from $200 to $250, what is the pe

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Question: If a gallery increases the price of an artwork from $200 to $250, what is the percentage increase in price?

Options:

Correct Answer: 25%

Solution:

Percentage increase = ((250 - 200) / 200) * 100 = (50 / 200) * 100 = 25%.

If a gallery increases the price of an artwork from $200 to $250, what is the percentage increase in price?

If a gallery increases the price of an artwork from $200 to $250, what is the percentage increase in price?

Step 1: Identify the original price of the artwork, which is $200.
Step 2: Identify the new price of the artwork, which is $250.
Step 3: Calculate the difference in price by subtracting the original price from the new price: 250 - 200 = 50.
Step 4: Divide the difference in price (50) by the original price (200): 50 / 200.
Step 5: Multiply the result from Step 4 by 100 to convert it to a percentage: (50 / 200) * 100.
Step 6: Calculate the final result: 25%.

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