Question

Last year, prices increased due to inflation. This year inflation caused prices to go up again. After the second increase, the price for a certain item became 6 times the original. What was the percent increase of the second increase if the first increase was 50%?

Answer 1

The second percentage increase in price is 300%.

Inflation is when there is a persistent rise in the general price levels in an economy. Inflation leads to an increase in the prices of goods and services.

Let's assume that the price of an item is $100.

This year prices are 6 times the original price. This means that prices are $600 ($100 x6).

Increase in prices after the 50% increase = (1.5 x 100) = $150.

Percentage increase in price so that price is now $600 = $600 / $150 - 1 = 3 = 300%

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