Second Chance Furniture buys used reclining chairs for $56.50 each. The store then sells the chairs for $73.45. What is the percent increase?

Question

These are the answers given in  box, so which is the right one? 

 2.3%

3%

23%

30%

123%

130%

Answer 1

We want to know what percentage of 56.50 is 73.45

 

73.45 = (x/100)(56.5)

x = 73.45(100)/56.5

 

This will give you a percentage greater than 100%

Subtract 100 from that to find the percentage increase.

Answer 2

(73.45 - 56.50) / 100