A man bought a car for Rs. 3,50,000. The next year, the price went up to Rs. 3,70,000. What was the percentage of the price increase?

5.71%

7.5% 4%

4.9%

2.5%

Increased the price of a car from Rs. 3,50,000 to Rs. 3,70,000.

Amount change = 3,70,000 - 3,50,00 = Rs. 20,000

Therefore, Increased percentage = \frac{Amount\ of\ change}{Original\ amount}\times100

= \frac{20000}{350000}\times100=5\ \frac{5}{7}\%

Hence, the percentage of price increased is 5\ \frac{5}{7}\%