The increase in the price of the bananas = 8%
We know that the formula for percent change:
percent change = [(new value - old value)/ old value ] * 100
Here, the price for bananas was 75 cents per pound over last month. today, we see that it's been marked up to 81 cents per pound.
old value = 75 cents per pound
new value = 81 cents per pound
So, the percent increase in the price of bananas would be,
percent increase in price = [(81 - 75)/ 75 ] * 100
percent change = (6/75) * 100
percent change = 8%
Therefore, the increase is 8%
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