If a product's price is increased by 15% and then decreased by 15%, what is the

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What’s inside this PDF?

Question: If a product\'s price is increased by 15% and then decreased by 15%, what is the net change in price?

Options:

0%
2.25%
3.5%
1.5%

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 $97.75. Net change = (97.75 - 100)/100 * 100 = -2.25%.

If a product's price is increased by 15% and then decreased by 15%, what is the

Practice Questions

If a product's price is increased by 15% and then decreased by 15%, what is the net change in price?

0%
2.25%
3.5%
1.5%

Questions & Step-by-Step Solutions

If a product's price is increased by 15% and then decreased by 15%, what is the net change in price?

Step 1: Assume the original price of the product is $100.
Step 2: Calculate the price after a 15% increase. To do this, multiply $100 by 0.15 (which is 15%) and add it to the original price: $100 + ($100 * 0.15) = $115.
Step 3: Now, calculate the price after a 15% decrease from the new price of $115. First, find 15% of $115: $115 * 0.15 = $17.25.
Step 4: Subtract the decrease from the new price: $115 - $17.25 = $97.75.
Step 5: Now, find the net change in price. Subtract the original price from the final price: $97.75 - $100 = -$2.25.
Step 6: To find the percentage change, divide the net change by the original price and multiply by 100: (-$2.25 / $100) * 100 = -2.25%.

Percentage Increase and Decrease – Understanding how to calculate the effect 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 15% and then decreased by 15%, what is the

What’s inside this PDF?

If a product's price is increased by 15% and then decreased by 15%, what is the

Practice Questions

Questions & Step-by-Step Solutions

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