Question

The price of a book was $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:

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

Substituting in the values from your question:

- Old Price = $12
- New Price = $15

Now calculate the difference in price:

\[
\text{Difference} = 15 - 12 = 3
\]

Now use the values in the percent increase formula:

\[
\text{Percent Increase} = \left( \frac{3}{12} \right) \times 100
\]

Calculating the fraction:

\[
\frac{3}{12} = 0.25
\]

Now multiply by 100:

\[
0.25 \times 100 = 25
\]

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