To calculate the percent increase in the price of the book, you can use the formula:
\[ \text{Percent Increase} = \left( \frac{\text{New Price} - \text{Old Price}}{\text{Old Price}} \right) \times 100 \]
In this case, the old price is $12 and the new price is $15.
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Calculate the difference in price: \[ \text{New Price} - \text{Old Price} = 15 - 12 = 3 \]
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Substitute the values into the formula: \[ \text{Percent Increase} = \left( \frac{3}{12} \right) \times 100 \]
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Calculate the fraction: \[ \frac{3}{12} = 0.25 \]
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Multiply by 100 to find the percent: \[ 0.25 \times 100 = 25 \]
The percent increase in the price of the book is 25%.
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