Price increase percentage

By what percent did the product price increase in the store if we proceeded with the price increase by multiplying the original price by 1.16?

Final Answer:

p =  16 %

Step-by-step explanation:

$$\begin{gathered} b=1.16a \\ p=100\cdot \frac{b-a}{a}=100\cdot \frac{1.16a-a}{a} \\ p=100\cdot \frac{1.16-1}{1} \\ p=100\cdot (1.16-1)=16\% \end{gathered}$$

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