To calculate the percent increase, we can use the formula:
\[ \text{Percent Increase} = \left( \frac{\text{Selling Price} - \text{Cost Price}}{\text{Cost Price}} \right) \times 100 \]
In this case:
- Cost Price = $23
- Selling Price = $35
Now we substitute these values into the formula:
\[ \text{Percent Increase} = \left( \frac{35 - 23}{23} \right) \times 100 \]
First, calculate the difference in price:
\[ 35 - 23 = 12 \]
Now, divide by the cost price:
\[ \frac{12}{23} \approx 0.5217391304 \]
Now multiply by 100 to get the percentage:
\[ 0.5217391304 \times 100 \approx 52.17391304 \]
Rounding to the nearest whole percent gives us:
\[ \text{Percent Increase} \approx 52% \]
Thus, the percent increase on life preservers is 52%.