The cost price of an item increased from ₹2,500 to ₹3,000…

The cost price of an item increased from ₹2,500 to ₹3,000. Find the increase percentage.

Show answer & explanation

Correct answer: B

Explanation

The correct answer is option 2 i.e. 20%.

Original Price = ₹2,500

New Price = ₹3,000

Increase in Price = ₹3,000 − ₹2,500 = ₹500

Percentage Increase = $(\frac{New Price−Original Price}{Original Price})×100$

Percentage Increase = $(\frac{500}{2500})×100$

Percentage Increase = 20%

SSC CHSL 2024 PYQ — Question 74