Question

Amir brought a car for Rs 3,50,000. The next year, the price went up to Rs 3,70,000. What was the percentage of price increase?​

Answer 1

Given:

Cost=3,50,000

Price next year=3,70,000

Let the percentage increase be X%.

Equation formed: Cost + X% of cost=Price next year.

350000+X/100x350000=370000

350000+3500X=370000

3500X=370000-350000

3500X=20000

X=20000/3500

X=5.7142857142857142%

Or approximately 6% increase in price.