The price of a car is decreased by 15% and 20% in two successive years respectively. What percentage of the price of the car is decreased after two years?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 32%.
The price of a car has decreased by 15% and 20% in two successive years.
Overall discount = [15 + 20 - (15 × 20)/100]%
= [15 + 20 - 300/100]%
= (15 + 20 - 3)%
= 32%
Therefore, the percentage of the price of the car decreased after two years is 32%.