To find the percentage increase, we use the formula:

$\text{Percentage Increase} = \frac{\text{New Price} - \text{Old Price}}{\text{Old Price}} \times 100$

In this case:

• Old Price = 160
• New Price = 232

Substitute these values:

$\text{Percentage Increase} = \frac{232 - 160}{160} \times 100$

Calculate the difference:

$232 - 160 = 72$

Then,

$\text{Percentage Increase} = \frac{72}{160} \times 100$

Divide and multiply by 100:

$\text{Percentage Increase} = 0.45 \times 100 = 45\%$

Answer:

The percentage increase in price is 45%.

Would you like more details or have any questions about this calculation?

Here are five related questions for practice:

1. If the price of another item went from $200 to $260, what would be the percentage increase?
2. What would the percentage increase be if an item rose from $150 to $225?
3. How would you calculate the percentage decrease if the price dropped instead of increased?
4. If a product increased in price by 30%, what would the new price be if the original was $180?
5. If an item’s price rises from $320 to $400, what is the percentage increase?

Tip: When calculating percentage changes, always use the original or "old" value as the base in the denominator for accuracy.