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A man bought a car for Rs. 3,50,000. The next year, the price went up to Rs. 3,70,000. What was the percentage of the price increase?
  1. 5.71%
  2. 7.5% 4%
  3. 4.9%
  4. 2%
  5. 2.5%
Explanation

Increased the price of a car from Rs. 3,50,000 to Rs. 3,70,000.

 Amount change = 3,70,000 - 3,50,00 = Rs. 20,000

 Therefore, Increased percentage = \frac{Amount\ of\ change}{Original\ amount}\times100

= \frac{20000}{350000}\times100=5\ \frac{5}{7}\%

 Hence, the percentage of price increased is 5\ \frac{5}{7}\%

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