The price of a small diamond ring was recently increased by 11%. If the ring originally cost $1900, find the mark up and the new price of the ring.

Question

The price of a small diamond ring was recently increased by 11%. If the ring originally cost $1900, find the mark up and the new price of the ring.

Answer 1

Hi Michael ,

 

The price of the ring is $1900.

 

Now the price is increased by 11%. So the mark up or the increase in price is (11%) of 1900 

= 0.11*1900 

= $209

 

The new price of the ring will be $1900+$ 209 = $ 2109

 

Also note- 

The new price can also be calculated directly from the original price by calculation 111% of 1900 = 1.11*1900 =  $2109

 

Hope this helps.

 

Best Wishes

Madhu