Question

The cost of a jacket increased from $95.00 to $109.25. What is the percentage increase of the cost of the jacket?
A.
14.25%
B.
15%
C.
85%
D.
1.5%

Answer 1

To calculate the percentage increase in the cost of the jacket, we can use the formula:

\[
\text{Percentage Increase} = \left( \frac{\text{New Price} - \text{Old Price}}{\text{Old Price}} \right) \times 100
\]

Given:
- Old Price = $95.00
- New Price = $109.25

Now, substitute the values into the formula:

\[
\text{Percentage Increase} = \left( \frac{109.25 - 95.00}{95.00} \right) \times 100
\]

First, calculate the difference in price:

\[
109.25 - 95.00 = 14.25
\]

Now, divide by the old price:

\[
\frac{14.25}{95.00} \approx 0.15026315789
\]

Finally, multiply by 100 to get the percentage:

\[
0.15026315789 \times 100 \approx 15.03\%
\]

Rounding to two decimal places gives approximately 15%. Therefore, the percentage increase of the cost of the jacket is:

**B. 15%**