Answer:
The price went up by 8.77%
Step-by-step explanation:
Let
57 cents be "old value" and 62 cents be the "new value"
Percentage increase is always given by:
Percentage Increase = [tex]\frac{new-old}{old}*100[/tex]
Substituting these values into the formula gives us:
[tex]\frac{new-old}{old}*100\\=\frac{62-57}{57}*100\\=0.0877*100\\=8.77[/tex]
Hence the price went up by 8.77%
