The price of a car increases successively by 5%, 10% and 20%, respectively. What is the equivalent change in the price?
Show answer & explanation
Correct answer: C
Explanation
The Correct answer is Option 3 i.e. %.
Single discount of two successive discounts = x + y + xy/100
Single discount of 5% and 10% = 5 + 10 + 50/100 = 15 + 0.5 = 15.5
Single discount of 15.5% and 20% = 15.5 + 20 + 310/100 = 35.5 + 3.1 = 38.6 or %