Question : What is the single equivalent price increase for two successive price increase of 5% and 8% on an item?
Option 1: 13.4%
Option 2: 12.5%
Option 3: 14.2%
Option 4: 15.5%
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Correct Answer: 13.4%
Solution : Equivalent price increase Equivalent increase = $a + b + \frac{ab}{100}$ Where $a$ and $b$ are increased percentages. = $8 + 5 + \frac{8×5}{100}$ = 13.4% Hence, the correct answer is 13.4%.
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