A product's price increased from $80 to $100. What is the percentage increase?

A product's price increased from $80 to $100. What is the percentage increase?

Correct Answer: 25%

Step 1: Identify the original price of the product, which is $80.
Step 2: Identify the new price of the product, which is $100.
Step 3: Calculate the difference in price by subtracting the original price from the new price: 100 - 80 = 20.
Step 4: Divide the difference by the original price: 20 / 80.
Step 5: Calculate the result of the division: 20 / 80 = 0.25.
Step 6: Convert the decimal to a percentage by multiplying by 100: 0.25 * 100 = 25%.
Step 7: The percentage increase is 25%.

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