The price of an item decreased by 8% and then increased by 12%. What is the approximate effective change in the price in percentage?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 3%.
To find the effective change in the price in percentage
⇒ x + y + xy/100
here, x = - 8% and y = 12%
⇒ -8 + 12 - 96/100 = 4 - 0.96 = 3.04% or 3% approximately