The price of petrol is raised to Rs.96.5 per litre from Rs.92 per litre. What is the percentage increase in price of petrol?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option3 i.e. 4.9%
The initial price of petrol = Rs. 92 per litre
New price of petrol = Rs. 96.5 per litre
Percentage increase = ((New value - Initial value)/Initial value) × 100
Percentage increase = ((96.5 - 92)/92) × 100
= (4.5/92) × 100
= 4.9%