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The cost price of a chair is 21.800. Later, its cost price becomes 22,100. What is the percentage increase in the cost price of the chair?
Percentage increase is obtained from the standard relation
$$\text{Percentage increase}=\frac{\text{New price}-\text{Original price}}{\text{Original price}}\times100\%$$
Original (old) cost price of the chair $$=Rs.\,1\,800$$
New cost price of the chair $$=Rs.\,2\,100$$
Increase in cost price
$$\text{Increase}=2\,100-1\,800=300$$
Substituting in the formula,
$$\text{Percentage increase}=\frac{300}{1\,800}\times100\%$$
Simplifying the fraction,
$$\frac{300}{1\,800}=\frac{1}{6}$$
Hence,
$$\text{Percentage increase}=\frac{1}{6}\times100\%=16\frac{2}{3}\%$$
Therefore, the cost price of the chair has increased by $$16\frac{2}{3}\%$$.
Option B which is: $$16\frac{2}{3}\%$$
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