If a product's price is increased by 20% and then decreased by 20%, what is the

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Question: If a product\'s price is increased by 20% and then decreased by 20%, what is the net change in price? (2023)

Options:

Correct Answer: 4%

Exam Year: 2023

Solution:

Let the original price be 100. After a 20% increase, the price becomes 120. After a 20% decrease, the price becomes 120 - 24 = 96. The net change is (96 - 100) / 100 * 100% = -4%.

If a product's price is increased by 20% and then decreased by 20%, what is the

Practice Questions

If a product's price is increased by 20% and then decreased by 20%, what is the net change in price? (2023)

Questions & Step-by-Step Solutions

If a product's price is increased by 20% and then decreased by 20%, what is the net change in price? (2023)

Step 1: Assume the original price of the product is 100.
Step 2: Calculate the price after a 20% increase. 20% of 100 is 20, so the new price is 100 + 20 = 120.
Step 3: Calculate the price after a 20% decrease from the new price of 120. 20% of 120 is 24, so the new price is 120 - 24 = 96.
Step 4: Find the net change in price by subtracting the original price from the final price. 96 - 100 = -4.
Step 5: Calculate the percentage change by dividing the net change by the original price and multiplying by 100. (-4 / 100) * 100% = -4%.

Percentage Increase and Decrease – Understanding how to calculate the effects of successive percentage changes on a value.
Net Change Calculation – Calculating the overall change in value after applying both an increase and a decrease.

If a product's price is increased by 20% and then decreased by 20%, what is the

What’s inside this PDF?

If a product's price is increased by 20% and then decreased by 20%, what is the

Practice Questions

Questions & Step-by-Step Solutions

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