Let's begin by listing out the information given to us:
Old Price = $54
New Price = $74
The percentage change is given by:
[tex]\begin{gathered} \text{\%}\Delta=\frac{|OldPrice-NewPrice|}{OldPrice}\cdot100\text{\%} \\ \text{\%}\Delta=\frac{|54-74|}{54}\cdot100\text{\%} \\ \text{\%}\Delta=\frac{|-20|}{54}\cdot100\text{\%} \\ \text{\%}\Delta=\frac{20}{54}\cdot100\text{\%} \\ \text{\%}\Delta=37.04\text{\%} \\ \text{\%}\Delta\approx37\text{\%} \end{gathered}[/tex]