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A product's price is increased by 15% and then decreased by 15%. What is the net

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Question: A product\'s price is increased by 15% and then decreased by 15%. What is the net effect on the price?

Options:

  1. 0%
  2. 2.25%
  3. 3.25%
  4. 4.5%

Correct Answer: 2.25%

Solution: 

Let the original price be $100. After a 15% increase, the price is $115. After a 15% decrease, the price is $115 - (15% of $115) = $115 - $17.25 = $97.75. The net change is ($97.75 - $100) / $100 * 100% = -2.25%.

A product's price is increased by 15% and then decreased by 15%. What is the net

Practice Questions

Q1
A product's price is increased by 15% and then decreased by 15%. What is the net effect on the price?
  1. 0%
  2. 2.25%
  3. 3.25%
  4. 4.5%

Questions & Step-by-Step Solutions

A product's price is increased by 15% and then decreased by 15%. What is the net effect on the price?
  • Step 1: Assume the original price of the product is $100.
  • Step 2: Calculate the price after a 15% increase. This is done by multiplying $100 by 15% (which is 0.15) to get $15. Then add this to the original price: $100 + $15 = $115.
  • Step 3: Now, calculate the price after a 15% decrease from the new price of $115. First, find 15% of $115 by multiplying $115 by 0.15, which equals $17.25.
  • Step 4: Subtract the decrease from the increased price: $115 - $17.25 = $97.75.
  • Step 5: To find the net effect on the price, calculate the difference from the original price: $97.75 - $100 = -$2.25.
  • Step 6: To express this change as a percentage, divide the change by the original price: -$2.25 / $100 = -0.0225.
  • Step 7: Convert this decimal to a percentage by multiplying by 100: -0.0225 * 100 = -2.25%.
  • Percentage Increase and Decrease – Understanding how successive percentage changes affect a value.
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