Single percentage increase on price: The price of a product is increased by 20%. If the original price is ₹300, what is the final price after the increase?

Introduction / Context:
A straightforward computation: increasing a known base price by a given percentage. This type of question is common in shopping, taxation (e.g., GST), and inflation computations, where the new amount must be calculated from the original value and a single rate of change.

Given Data / Assumptions:

• Original price = ₹300.
• Increase = 20% of the original price.

Concept / Approach:
For a single increase of r%, multiply the original value by (1 + r/100). Here r = 20, so factor = 1.20. This compact method avoids separate steps of calculating the increment first and then adding it back, though both methods yield the same result.

Step-by-Step Solution:

Verification / Alternative check:
Reverse check: If final is 360, the increase over 300 is 60, and 60/300 * 100% = 20%. This confirms accuracy.

Why Other Options Are Wrong:
₹350, ₹365, and ₹370 correspond to incorrect increase amounts (16.7%, 21.7%, 23.3% respectively). ₹340 implies only a 13.3% increase, not 20%.

Common Pitfalls:
Mixing up the base for percentage increase or mistakenly applying further changes. Ensure the percentage is always applied to the stated original price unless clearly specified otherwise.

Final Answer:
₹360