Question
Download Solution PDFRamesh's salary was reduced by 10% and then the reduced salary was increased by 10%. What was his ultimate loss?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Initial salary reduction = 10%
Then increased by = 10%
Formula used:
Net change = -x% + x% - (x × x) ÷ 100
Where x = same percentage increase and decrease
Calculation:
⇒ Net change = -10 + 10 - (10 × 10) ÷ 100
⇒ Net change = 0 - 100 ÷ 100
⇒ Net change = -1%
∴ Ramesh's ultimate loss is 1%.
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