If the prize of an item is increased to Rs. 110 from Rs. 50, the percentage increase is _______.

Concept:

Percentage increase in price = \(\frac{Final~price~-~Initial ~price}{Initial ~price}~\times~100\)

Calculation:

Given:

Initial price = Rs 50, Final price = Rs 110

∵ Percentage increase in price = \(\frac{Final~price~-~Initial ~price}{Initial ~price}~\times~100\)

⇒ Percentage increase in price = \(\frac{110~-~50}{50}~\times~100~\)

\(=~\frac{60}{50}~\times~100~\)

\(=~\frac{6}{5}~\times~100\)

⇒ Percentage increase in price = 120%