A product's price increased from $200 to $250. What is the percentage increase i

A product's price increased from $200 to $250. What is the percentage increase in price?

A product's price increased from $200 to $250. What is the percentage increase in price?

Correct Answer: 25%

Step 1: Identify the original price of the product, which is $200.
Step 2: Identify the new price of the product, 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 by the original price: 50 / 200.
Step 5: Calculate the result of the division: 50 / 200 = 0.25.
Step 6: Convert the result into a percentage by multiplying by 100: 0.25 * 100 = 25%.
Step 7: The percentage increase in price is 25%.

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