A shopkeeper increases the price of a product by 10%. If the original price was Rs. 500, what is the new price?
Show answer & explanation
Correct answer: D
Explanation
Given:
Original price = ₹500
Increase = 10%
Formula:
New price = Original price × (1 + Increase/100)
New price = 500 × (1 + 10/100)
New price = 500 × 1.10 = ₹550