Answer:
15%
Step-by-step explanation:
Formula to find percentage increase/decrease/multiplier:
NV = OV x m
In words: New value = Old value x multiplier
In this question we're looking for the m (multiplier), so rearrange the formula and make m the subject.
m = NV / OV
So NV is the increase: 3162.50
OV = 2750
So 3162.50 / 2750 = 1.15
This is the multiplier (1.15) so turn into percentage by multiplying by 100 then subtract by 100.
1.15 * 100 = 115 - 100 = 15%
And the fact that the number is postive is proof that price has increased, if it was decrease, you would be expecting a negative number. Hope you understood. :)
