From the information given, the percentage increase in the price bid over the cost will be 23%.
Cost on the product = $112.
Amount bid = $138
Therefore, the Percentage increase will be:
= (138 - 112) / 112 × 100
= 26/112 × 100
= 23%
Therefore, from the calculation above, it can be seen that the percentage increase in the price bid over the cost will be 23%.
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