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Compute the requested value. Choose the correct answer. If the cost is $58.00 and the selling price is $63.00, then what is the percent of increase? It is %.

Respuesta :

irspow
%change=100(final-initial)/initial....   in this case:

%change=100(63-58)/58

%change=100(5/58)

%change=500/58

%change=250/29 %

%change≈8.62%  (to nearest hundredth of a percent)

Answer:

The percent increase is:

8.6207%

Step-by-step explanation:

The cost price of an item is given by:

cost price (CP)= $ 58.00=$ 58

Also, the selling price of an item is given by:

Selling Price( SP)= $ 63.00=$ 63

Now, the percent increase which is also known as the gain percent is calculated as:

[tex]Percent\ increase=\dfrac{SP-CP}{CP}\times 100[/tex]

on substituting the value of the cost price and selling price in the formula we obtain:

[tex]Percent\ Increase=\dfrac{63-58}{58}\times 100\\\\Percent\ Increase=\dfrac{5}{58}\times 100\\\\Percent\ Increase=8.6207\%[/tex]

Hence, the percent increase is:

8.6207%

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