Question
Download Solution PDFThe cost price of an item increased from Rs. 2,500 to Rs. 3,000. Find the increase percentage.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Cost price increased from Rs. 2,500 to Rs. 3,000.
Concept:
The percentage increase is calculated by the formula:
Percentage Increase = ((New Value - Old Value) / Old Value) × 100
Calculation:
⇒ Old Value = Rs. 2,500
⇒ New Value = Rs. 3,000
⇒ Increase = New Value - Old Value
⇒ Increase = 3,000 - 2,500
⇒ Increase = 500
⇒ Percentage Increase = (500 / 2,500) × 100
⇒ Percentage Increase = 0.2 × 100
⇒ Percentage Increase = 20%
∴ The correct answer is option 1.
Last updated on Jul 21, 2025
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