Question

Silver prices scaled a new peak of ₹ 1,73,000 per kg on Monday after an unprecedented single-day gain of ₹ 11,000 per kg driven by increasing demand from investors amid a global shortage of the precious metal.

Calculate the percentage change (up to two decimal places) in the prices of silver.

Answer 1

Original Price = New price − single-day gain

= 1,73,000 − 11,000

= 1,62,000

Percentage Change = `(11,000)/(1,62,000) xx 100`

= 6.79%