Question

The price of a book cost $12 last year. This year the price of the book increased to $15. What is the percent increase in the price of the book

Answer 1

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.

1. Calculate the difference in price:
\[
\text{New Price} - \text{Old Price} = 15 - 12 = 3
\]

2. Substitute the values into the formula:
\[
\text{Percent Increase} = \left( \frac{3}{12} \right) \times 100
\]

3. Calculate the fraction:
\[
\frac{3}{12} = 0.25
\]

4. Multiply by 100 to find the percent:
\[
0.25 \times 100 = 25
\]

The percent increase in the price of the book is **25%**.