Is a 23% price increase in an installment purchase transaction considered usury (riba) or permissible (halal)?

It is permissible to sell goods by installment at a price higher than their cash price because time has a share in the price, provided that the payment method (installment or cash) is specified before the contract, that the item sold is permissible and owned by the seller, and that the installments are known and the term is specified, as Allah the Almighty says: "O you who have believed, when you contract a debt for a specified term, write it down." [Quran 2:282] And due to the well-established story of Barirah in the Two Sahihs.