Question
Download Solution PDFThe price of a bike is first increased by 21% and later on, it is decreased by 34% due to reduction in sales. Find the net percentage change in the final price of the bike.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Initial increase in price = 21%
Subsequent decrease in price = 34%
Formula Used:
Net percentage change = \((1 + \frac{a}{100})(1 + \frac{b}{100}) - 1 × 100 \)
Where a = initial percentage change and b = subsequent percentage change
Calculation:
Let a = 21 and b = -34
Net percentage change = \((1 + \frac{21}{100})(1 + \frac{-34}{100}) - 1 × 100 \)
Net percentage change = (1 + 0.21)(1 - 0.34) - 1 × 100
Net percentage change = 1.21 × 0.66 - 1 × 100
Net percentage change = 0.7986 - 1 × 100
Net percentage change = -0.2014 × 100
Net percentage change = -20.14%
The net percentage change in the final price of the bike is a decrease of 20.14%.
Last updated on Jul 22, 2025
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