The cost of a concert ticket last week was $60.00. This week a concert ticket is $75.00. What is the percent increase of the ticket from last week to this week?
A.
8%
B.
15%
C.
20%
D.
25%
D. 25%
The percent increase can be calculated using the formula:
Percent Increase = [(New Price - Old Price) / Old Price] x 100
Substitute the values:
[(75 - 60) / 60] x 100 = (15 / 60) x 100 = 0.25 x 100 = 25%
Therefore, the concert ticket price increased by 25% from last week to this week.