Answer: Increase of 20%
Step-by-step explanation:
percent change = (new value - old value)/(old value) * 100%
Here, the new value is $60, and the old value is $50.
percent change = ($60 - $50)/($50) * 100%
percent change = ($10)/($50) * 100%
percent change = 1/5 * 100% = 0.2 * 100%
percent change = 20%
Since the percent change is positive, it is a percent increase.
Answer: Increase of 20%
