The price bid will be increased by 23% over the cost, according to the question.
What do you mean by percentage?
A percentage in mathematics is a number or ratio that is expressed as a fraction of 100. The abbreviations "pct.", "pct.", and occasionally "pc" are also used to indicate it, though the percent sign, "%," is most frequently used. A percentage has no dimensions and no standard measurement.
According to data in the given question,
We have given data:
Cost on the product you make is $112 per unit.
Bid amount $138 per unit,
Cost over the bid= $138-$112 = $26
Now, we need to determine the Percentage increase,
Percentage increase[tex]= \frac{26}{112}*100 \\[/tex]
= 23%
Therefore, the price bid will be increased by 23% over the cost.
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