Arun bought a car for Rs 3,50,000. The next year, the price went uptoRs 3,70,000. What was the Percentage of price increase?

Options

A. `30/7 %`
B. `40/7%`
C. `45/7%`
D. `50/7%`

Explanation

To find the percentage of price increase, we can follow these steps:

### Step 1: Identify the original price and the new price.
- The original price of the car = Rs 3,50,000
- The new price of the car = Rs 3,70,000

### Step 2: Calculate the increase in price.
- Price increase = New price - Original price
- Price increase = Rs 3,70,000 - Rs 3,50,000
- Price increase = Rs 20,000

### Step 3: Calculate the percentage of price increase.
- Percentage of price increase = (Price increase / Original price) × 100
- Percentage of price increase = (Rs 20,000 / Rs 3,50,000) × 100

### Step 4: Perform the calculation.
- Percentage of price increase = (20,000 / 3,50,000) × 100
- Percentage of price increase = 0.05714 × 100
- Percentage of price increase = 5.714%

### Step 5: Round off the percentage to two decimal places.
- Percentage of price increase ≈ 5.71%

### Final Answer:
The percentage of price increase is approximately **5.71%**.

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