Question
Download Solution PDFIf the price of an item is increased by 30% and then allows two successive discounts of 10% and 10%, in the last the price of an item is ________.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
If the price of an item is increased by 30% and then allows two successive discounts of 10% and 10%, in the last the price of an item is ________.
Formula used:
Let the original price be ₹100.
New price after 30% increase = ₹100 × (1 + 30/100) = ₹100 × 1.30 = ₹130
First discount of 10% = ₹130 × (1 - 10/100) = ₹130 × 0.90 = ₹117
Second discount of 10% = ₹117 × (1 - 10/100) = ₹117 × 0.90 = ₹105.3
Calculation:
Original price = ₹100
Final price after increase and discounts = ₹105.3
⇒ Price change = ₹105.3 - ₹100 = ₹5.3
⇒ Percentage change = (₹5.3 / ₹100) × 100 = 5.3%
Since the final price is higher than the original price by 5.3%, it is an increase.
∴ The correct answer is option 4 (increased by 5.3%).
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