The price of a scooter was 34,000 last year it has increased by 20% this year what is the price now

The price of a scooter was Rs. 34,000 last year. It has increased by 20% this year. What is the price now?

The increase in the price, which is 20% of Rs. 34,000.

20% of Rs. 34000 = Rs. `20/100 xx 34000` = Rs. 6800

New price = Old price + Increase

= Rs. 34,000 + Rs. 6,800

= Rs. 40,800.

20% increase means, Rs. 100 increased to Rs. 120.
So, Rs. 34,000 will increase to?

Increased price = Rs. `120/100 xx 34000` = 40,800.

Concept: Increase Or Decrease as Percent

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Last updated at Nov. 12, 2018 by

Example 2 (Method 1) The price of a scooter was Rs 34,000 last year. It has increased by 20% this year. What is the price now? Given, Old Price of scooter = 34000 Percentage increase = 20% Percentage increase = (𝐼𝑛𝑐𝑟𝑒𝑎𝑠𝑒 𝑖𝑛 𝑝𝑟𝑖𝑐𝑒)/(𝑂𝑙𝑑 𝑝𝑟𝑖𝑐𝑒) × 100 20 = (𝐼𝑛𝑐𝑟𝑒𝑎𝑠𝑒 𝑖𝑛 𝑝𝑟𝑖𝑐𝑒)/34000 × 100 20 = (𝐼𝑛𝑐𝑟𝑒𝑎𝑠𝑒 𝑖𝑛 𝑝𝑟𝑖𝑐𝑒)/340 20 × 340 = Increase in price 6800 = Increase in Price ∴ Increase in Price = 6800 Now, New price = Old Price + Increase in price = 34000 + 6800 = 40800 ∴ New price is now Rs 40,800 Example 2 (Method 2) The price of a scooter was Rs 34,000 last year. It has increased by 20% this year. What is the price now? Given, Old Price of scooter = 34000 Percentage increase = 20% Increase in price = Percentage increase × Old Price = 20% × 34000 = 20/100 × 3400 = 20 × 340 = 6800 ∴ Increase in Price = 6800 Now, New price = Old Price + Increase in price = 34000 + 6800 = 40800 ∴ New price is now Rs 40,800