If a product's price is increased by 20% and then decreased by 20%, what is the net change in price? (2023)
Practice Questions
1 question
Q1
If a product's price is increased by 20% and then decreased by 20%, what is the net change in price? (2023)
0%
4%
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6%
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%.
Questions & Step-by-step Solutions
1 item
Q
Q: If a product's price is increased by 20% and then decreased by 20%, what is the net change in price? (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%.
