Finding the percentage increase in the price of a share

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At the close of one business day, a company's stock was trading at $\$24$ a share.
At the close of the next business day, the stock was trading at $\$27$ a share.
Find the percent of increase.

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$\frac{27-24}{24}=\frac{3}{24}=\frac{1}{8}=12.5$%