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Percent increase

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Intern
Intern
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Joined: 24 Feb 2011
Posts: 29

Kudos [?]: 22 [0], given: 1

Percent increase [#permalink]

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New post 11 May 2011, 17:01
HI,
Can someone please explain the following:

If the ratio of the change in the book's price to its new price is 1 : 5
What is the % price increase?

THe answer is given, i just don't understand how to get to it.
THank you.

Kudos [?]: 22 [0], given: 1

Director
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Joined: 01 Feb 2011
Posts: 726

Kudos [?]: 144 [0], given: 42

Re: Percent increase [#permalink]

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New post 11 May 2011, 17:16
Given
ratio of change in book price/ new price = 1 /5

=>\(( new price - old price)/new price = 1/5\)

=> \(old price/new price = 4/5\) ---- equation 1

% increase is always with respect in the initial or old price.
=> % increase = (( new price - old price)/old price)*100---equation 2

substituting 1 in 2 we have

% increase = \(((new - (4/5)new)/((4/5)new) )* 100\)

= 25%

Kudos [?]: 144 [0], given: 42

Intern
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Joined: 24 Feb 2011
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Kudos [?]: 22 [0], given: 1

Re: Percent increase [#permalink]

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New post 11 May 2011, 17:25
Thank you,
i couldn't get to the first equation.

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Re: Percent increase [#permalink]

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New post 11 May 2011, 21:26
change = 1, new price = 5 means old price = 4

change/old price = (1/4)*100 = 25%
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Re: Percent increase [#permalink]

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New post 11 May 2011, 21:28
Given x/(x+p) = 1/5 So x/p * 100 = ?

5x = x+p => x/p = 1/4

=> 25%
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Kudos [?]: 592 [0], given: 36

Re: Percent increase   [#permalink] 11 May 2011, 21:28
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