Arun bought a car for $Rs.\ 3,50,000$. The next year, the price went upto $Rs.\ 3,70,000$. What was the Percentage of price increase?

Given: Arun bought a car for $Rs.\ 3,50,000$. The next year, the price went upto $Rs.\ 3,70,000$. 

To do: To find the percentage of price increase.

Solution:

Car bought at the price$=Rs.\ 3,50,000$

Price for the next year$=Rs.\ 3,70,000$

Percentage of price increase$=\frac{3,70,000-3,50,000}{3,50,000}\times100$

$=\frac{20,000}{3,50,000}\times100$

$=\frac{200}{35}$

$=5.7$ %

Thus, $5.7$ % is the price increase.