Sure, let's break down the solution step-by-step:
1. Initial and New Prices:
- The initial price of the book is E250.
- The new price of the book is E270.
2. Calculate the Price Increase:
- First, determine the absolute increase in price by subtracting the initial price from the new price.
[tex]\[
\text{Price Increase} = \text{New Price} - \text{Initial Price} = E270 - E250 = E20
\][/tex]
3. Calculate the Percentage Increase:
- The percentage increase can be calculated by dividing the price increase by the initial price and then multiplying by 100 to convert it to a percentage.
[tex]\[
\text{Percentage Increase} = \left( \frac{\text{Price Increase}}{\text{Initial Price}} \right) \times 100 = \left( \frac{E20}{E250} \right) \times 100
\][/tex]
- Performing the division:
[tex]\[
\frac{E20}{E250} = 0.08
\][/tex]
- Now, multiply by 100 to find the percentage:
[tex]\[
0.08 \times 100 = 8.0\%
\][/tex]
Therefore, the price of the book has increased by 20 E (E20) in absolute terms and by 8.0% in percentage terms.
