SOLUTION
Given the question in the image, the following are the solution steps to answer the question.
STEP 1: Write the formula for calculating the percentage increase
[tex]Percentage\text{ increase}=\frac{increase}{initial\text{ price}}\times100[/tex]STEP 2: Calculate the increase
[tex]\begin{gathered} increase=New\text{ price - initial price} \\ increase=\text{ \$}3.55-\text{ \$}3.30=\text{ \$}0.25 \end{gathered}[/tex]STEP 3: Calculate the percentag inrcease
[tex]\begin{gathered} \%increase=\frac{0.25}{3.30}\times100=\frac{25}{3.30}=7.575757576\% \\ \%increase\approx7.6\% \end{gathered}[/tex]Hence, the percentage increase s approximately 7.6%
