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The usual price of a pair of shoes was $50. Tom sold the shoes to Max for $55.25.Find the percentage increase in price.

Question

The usual price of a pair of shoes was 50.TomsoldtheshoestoMaxfor50. Tom sold the shoes to Max for 55.25.Find the percentage increase in price.

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Solution

Step 1: First, we need to find out how much more Max paid compared to the original price. We do this by subtracting the original price from the price Max paid.

So, 55.25(priceMaxpaid)55.25 (price Max paid) - 50 (original price) = $5.25.

Step 2: Next, we need to find out what percentage $5.25 is of the original price. We do this by dividing the difference by the original price and then multiplying by 100 to get the percentage.

So, (5.25/5.25 / 50) * 100 = 10.5%.

Therefore, the price of the shoes increased by 10.5%.

This problem has been solved

Similar Questions

The usual price of a bag was $48. Irene sold the bag to Samantha for $60.Find the percentage increase in price.

<p>To find the percentage increase in price, follow these steps:</p> <ol> <li> <p>First, find the increase in price by subtracting the original price from the new price. In this case, $55.25 (new price) - $50 (original price) = $5.25.</p> </li> <li> <p>Next, divide the increase in price by the original price. So, $5.25 (increase in price) ÷ $50 (original price) = 0.105.</p> </li> <li> <p>Finally, to convert this number into a percentage, multiply by 100. So, 0.105 x 100 = 10.5%.</p> </li> </ol> <p>Therefore, the percentage increase in price is 10.5%.</p> ####

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