Question : If the price of a product is first increased by 15% and then decreased by 20%, then what is the percentage change in the price?
Option 1: 5% decrease
Option 2: 8% increase
Option 3: 5% increase
Option 4: 8% decrease
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Correct Answer: 8% decrease
Solution :
Let the initial price be Rs. 100.
After an increase of 15%, the price becomes:
$100 +\frac{15}{100}\times100 = 100 + 15 =$ Rs. 115
Now, After a decrease of 20%, the price becomes:
$115 -\frac{20}{100}\times115 = 115 - 23 =$ Rs. 92
⇒ Total change in price = Rs. (100 – 92) = Rs. 8
Percentage change = $\frac{\text{Change in Price}}{\text{Actual price}}\times 100=\frac{8}{100}\times 100=8$% decrease
Hence, the correct answer is '8% decrease'.
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