Shortcut Trick
Cost increase = 1,95,382 − 1,82,590 = 12,792
Percentage increase = (12,792 ÷ 1,82,590) × 100
Approximate 1% of 1,82,590 ≈ 1,826. Since 1,826 × 7 = 12,782, the value is ≈ 7%.
∴ The correct answer is 7%.
Alternate Method
Given:
Original Cost = ₹1,82,590
New Cost = ₹1,95,382
Formula Used:
Percentage Increase = [(New Value − Original Value) ÷ Original Value] × 100
Calculations:
⇒ Total Increase = 1,95,382 − 1,82,590 = 12,792
⇒ Percentage Increase = (12,792 ÷ 1,82,590) × 100
⇒ Percentage Increase ≈ 0.070058 × 100
⇒ Percentage Increase ≈ 7.0058%
⇒ Rounded to nearest integer = 7%
∴ The correct answer is 7%.
Additional Information
Percentage Change
It represents the relationship between an old value and a new value. Formula: [(Difference) ÷ (Original Value)] × 100.
Rounding Off Rules
If the decimal part is 0.5 or more, round up to the next integer; otherwise, keep the current integer.
Base Value in Percentage
Always use the initial or original value as the denominator (base) when calculating the percentage of increase or decrease.