If the prize of an item is increased to Rs. 80 from Rs. 60, the % increase is?

Concept:

Percentage increase in price = \(\frac{Final~price~-~Initial ~price}{Initial ~price}~\times~100\)

Calculation:

Given:

Initial price = Rs 60, Final price = Rs 80

∵ Percentage increase in price = \(\frac{Final~price~-~Initial ~price}{Initial ~price}~\times~100\)

⇒ Percentage increase in price = \(\frac{80~-~60}{60}~\times~100~=~\frac{20}{60}~\times~100~=~\frac{1}{3}~\times~100\)

⇒ Percentage increase in price = 33.3%