By what percent is the change in price if: Reference d the price was $40 and now is $60.

Question

The answer is by ?%

Answer 1

In order to calculate percent change, you take the difference of the new price and the old price, and then divide that by the old price.

 

In this example, you would have (60-40)/40 = 20/40 = .5 = 50%

 

The percent change is a 50% increase. This makes sense because if you take 50% of the original price, $40, that gives you $20. Since your price increased by $20, it increased by 50%.