Arun bought a car for Rs. 3, 50, 000. The next year, the price went up to Rs. 3,70,000. What was the Percentage of price increase?
According to the question,
Initial price of the car = Rs 3, 50, 000
After the increment in the price of the car,
Final price of the car = Rs 3, 70, 000
Therefore,
Increment in the price = 3, 70, 000 – 3, 50, 000
= Rs 20,000
Hence,
Increase percentage = 
× 100 %
= 
× 100 %
= 
%
= 5 
%
12