Question 46

The percent increase in the price of the sailboat is 25%.

The price of the sailboat increased from $12,000 to $15,000, which results in a percent increase of 25%.

A) 2.50%

This option is incorrect as it significantly underestimates the change in price. To calculate the percent increase, one must find the difference in price ($15,000 - $12,000 = $3,000) and divide it by the original price ($12,000), which does not yield 2.50%.

B) 7.50%

This option is also incorrect. A percent increase of 7.50% would imply a much smaller increase in price. The calculation for 7.50% of the original price does not align with the actual increase of $3,000.

C) 20%

While this option is closer, it still does not reflect the correct increase. A 20% increase on the original price of $12,000 would result in an increase of only $2,400, which is less than the actual increase of $3,000.

D) 25%

This is the correct answer. The percent increase is calculated as follows: the difference in price ($3,000) divided by the original price ($12,000) equals 0.25, which converts to 25% when expressed as a percentage.

E) 75%

This option is incorrect as it greatly exaggerates the percent increase. A percent increase of 75% would imply a price increase to $21,000, which is not the case here.

Conclusion

The calculation confirms that the percent increase in the price of the sailboat is indeed 25%. The other options fail to accurately reflect the price change, either by underestimating or miscalculating the increase based on the original price. Thus, D is definitively the correct choice in this scenario.