Ex.8.3 Q4 Compairing Quantities - NCERT Maths Class 7

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Question

Arun bought a car for \(\rm Rs\, 3,50,000.\) The next year, the price went upto \(\rm Rs\, 3,70,000.\) What was the percentage of price increase?

 Video Solution
Comparing Quantities
Ex 8.3 | Question 4

Text Solution

What is Known?

Price at which Arun bought a car \((\rm Rs\, 3,50,000)\) and the price of the car next year \(\rm(Rs\, 3,70,000).\)

What is Unknown?

The percentage of price increase

Reasoning:

The increase in price can be calculated by subtracting earlier (initial) price from the next year (final) price and percentage increase in price can be obtained using the formula

Percentage increase 

\[\begin{align}{\text{ = }}\frac{{{\text{Change}}\;{\text{in}}\;\;{\text{quantity}}}}{{{\text{Initial}}\;{\text{quantity}}\;}} \times {\text{100}}\end{align}\]

Steps:

 Increase in price 

\[\begin{align} &= 3,70,000 - 3,50,000\,\\&= 20000\end{align}\]

 Percentage Increase 

\[\begin{align}&= \,\,\frac{{{\text{Change}}\;{\text{in}}\;\;{\text{quantity}}}}{{{\text{Initial}}\;{\text{quantity}}\;}} \times {\text{100}}\,\\&=\frac{{{\text{20000}}}}{{{\text{350000}}}} \times {\text{100}}\\&= \,{\text{ }}\frac{{{\text{200}}}}{{{\text{35}}}}\\&= 5\frac{{\text{5}}}{{\text{7}}}{\text{% }}\end{align}\]