The price of a product increased by 20%. After some time, it decreased by 15%. What is the overall percentage change in the price?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 2%.
Let original price = 100
After 20% increase: 100 + 20 = 120
After 15% decrease: 120 - (15% of 120) = 120 - 18 = 102
Overall change = 102 - 100 = 2
Overall percentage change = (2 ÷ 100) × 100 = 2% increase