An LCD Flat Screen TV at Best Buy Increased in Price

question 77

Multiple Choice

An LCD flat screen TV at Best Buy increased in price from $900 to $1,200. What was the percent of increase?

• A)33 1/3%.
• B)50%.
• C)60%.
• D)70%.
• E)None of these.

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Definitions:

Payoff

The act of completely repaying a loan, including the principal amount and any accrued interest, thereby fulfilling the borrower's obligations.

Sale

The act of selling goods or services in exchange for money or other compensation, constituting a fundamental business activity.

Accounting Equation

The fundamental formula representing the relationship between a company's assets, liabilities, and owners' equity (Assets = Liabilities + Equity).

Total Assets

The total value of everything a company owns, including both current and non-current assets, used in its operations to generate revenue.