The price of an item is increased by 15%, and then the price is decreased by 12%. What is the effective percentage increase in the price of the item?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 1.2%.
Percentage increase = 15 - 12 - (15 × 12)/100 = 15 - 12 - 1.8 = 1.2%