If the price of a product increased from $50-$60 what is the percent increase in price
To find the percent increase in price, you can use the formula:
Percent Increase = ((New Price - Old Price) / Old Price) * 100
Using the given values:
Old Price = $50
New Price = $60
Percent Increase = ((60 - 50) / 50) * 100
Percent Increase = (10 / 50) * 100
Percent Increase = 0.2 * 100
Percent Increase = 20%
Therefore, the percent increase in price is 20%.