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SSC MTS 2023 PYQ — Question 7

SSC MTS - 08 May 2023 - Shift 1 • Quantitative Aptitude • Q7

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What is the single equivalent price increase for two successive price increases of 5% and 8% on an item?

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Correct answer: D

Explanation

The correct answer is option 4 i.e. 13.4%.

First increase a = 5%

Second increase b = 8%

Equivalent Increase = a + b + (a×b​100)(\frac{a × b​}{100})

⇒ 5 + 8 + (5×8​100)(\frac{5 × 8​}{100})

⇒ 13 + 40​100\frac{40​}{100}

⇒ 13.4%