Solution
Original cost price = $ 120
Percentage increase = 15%
New Price calculation ; Method 1
Find 15% of $120 and add the result to $120
[tex]\begin{gathered} \frac{15}{100}\times120=18 \\ \\ \Rightarrow18+120 \\ \Rightarrow138 \end{gathered}[/tex]New Price = $138
New Price calculation ; Method 2
Add 15% to the standard percentage ( 100 % ) .
This will give 115%
Find 115% of $120
This will give direct answer.
[tex]\frac{115}{100}\times120=1.15\times120=138[/tex]New Price = $138
NOTE : If price decrease , you will carry out a subtraction process.
It means , in method 1 , you will find 15% of $120 and subtract the result from $120 to get new price.
It also means that , in method 2, you will find 85% of $120 and get the direct answer.
