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Two successive price increases of 10% each on an article are equivalent to a single price increase of :
Answer & Solution
Correct Answer:
Option
C
Let the original price be Rs. $$x$$
New final price :
= 110% of (110% of Rs. 100)
= Rs. $$\left( {\frac{{110}}{{100}} \times \frac{{110}}{{100}} \times 100} \right)$$
= Rs. 121
∴ Total increase :
= (121 - 100)%
= 21%
New final price :
= 110% of (110% of Rs. 100)
= Rs. $$\left( {\frac{{110}}{{100}} \times \frac{{110}}{{100}} \times 100} \right)$$
= Rs. 121
∴ Total increase :
= (121 - 100)%
= 21%
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