A car's price increased from $15,000 to $18,000. What is the percentage increase in the car's price?
Question
A car's price increased from 18,000. What is the percentage increase in the car's price?
Solution
Step 1: First, you need to find out how much the price has increased. You do this by subtracting the original price from the new price. So, 15,000 = $3,000.
Step 2: Next, you need to find out what percentage this increase is of the original price. You do this by dividing the increase by the original price. So, 15,000 = 0.2.
Step 3: Finally, to turn this into a percentage, you multiply by 100. So, 0.2 x 100 = 20%.
Therefore, the car's price has increased by 20%.
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