if the price of an item triples the increase is what percent of the new price
(New price -old price) / old price
To calculate the percent increase when the price of an item triples, you need to find the difference between the new price and the original price first. Then, you divide this difference by the new price and multiply the result by 100 to get the percentage.
Let's say the original price of the item is P. When it triples, the new price becomes 3P. The increase is the difference between the new price and the original price, so it is 3P - P = 2P.
To find the percentage increase, divide the increase by the new price (2P divided by 3P) and multiply by 100:
(2P / 3P) * 100
Simplifying this expression, we get:
(2/3) * 100 = 200/3 ≈ 66.7%
Therefore, the increase is approximately 66.7% of the new price when the price of an item triples.