The cost of a jacket increased from $95.00 to $109.25. What is the percentage increase of the cost of the jacket?

Question

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%