A bag of rice cost #480 by August, by December it was sold for 20% more. What is the new price now?

Answer 1

To find the new price of the bag of rice in December after a 20% increase, you can use the following calculation:

1. Find 20% of the original price: \[ 20% \text{ of } 480 = \frac{20}{100} \times 480 = 0.2 \times 480 = 96 \]

2. Add the 20% increase to the original price: \[ \text{New Price} = \text{Original Price} + \text{Increase} = 480 + 96 = 576 \]

So, the new price of the bag of rice in December is #576.