Hello Fellow Bitcointalk members. Please explain this. Keep in mind I am not good in maths, so please don't be harsh.
Lets say an item costs $100, and we want to increase its price by 30% on the current price, The right way would have been
($100x30)/100 + $100 = 130$ right..?
But today i came across a dude, who did things differently. Instead of solving it that way.
He said Lets subtract 30% from 100% and then calculate the new increased price on the new percentage.
100%- 30% = 70% ( new percentage )
so if we divide
$100/70% we should get the same thing as 30% increase right?, well the answer is surprising(to me atleast), instead of $130, we get $142.85
What is happening here?
we should get the same answer shouldn't we? if are dividing the original price by 70% this means we should be getting the 130% of the Original price. That would mean an automatic addition of 30% to the original price. Why are the answers different. Its just bugging me.