Question : Directions: If the price of a certain product is first decreased by 35% and then increased by 20%, then what is the net change in the price of the product?
Option 1: 20%
Option 2: 25%
Option 3: 22%
Option 4: 30%
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Correct Answer: 22%
Solution :
Given:
Let the price of the product be 100.
When the price is decreased by 35%, it becomes 100 – 35% of 100 = 100 – 35 = 65
Then, it is increased by 20%. It becomes 65 + 20% of 65 = 65 + 13 = 78
Net change in the price of the product = {(Original price – Changed price) ÷ Original price} × 100
= {(100 – 78) ÷ 100} × 100
= {22 ÷ 100} × 100 = 22
So, the net change in the price is 22%. Hence, the third option is correct.
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