Question
The price of a camera is $250. The price is increased to $262.50. Estimate what percent of the price is increased.
- 5%
- 4%
- 6%
- 25%
Hint:
1. When a certain quantity is divided into 100 equal parts and a certain part of it is to be expressed in terms of the whole quantity, that portion is called as a percent, represented with a % sign.
2. Percentage increase = (New Price - Original Price) / Original Price * 100.
The correct answer is: 5%
Given-
Original price of the camera = $250
New Price of the camera = $262.50
To find-
Percentage increase in price
Solution-
We know that-
Percentage increase = (New Price - Original Price) / Original Price * 100
∴ Percentage increase = (262.50 - 250) / 250 * 100
∴ Percentage increase = 12.5 / 250 * 100
∴ Percentage increase = 5%
Final Answer- Option 'a' i.e. '5%' is the correct answer to the given question.
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