Due to inflation, the price of an item increased by 45% and then dropped by 20%. By what percent did the price increase?
1 answer:
<u>Answer</u>:
Percentage of increase = 16%
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<u>Step-by-step explanation:</u>
Let the price of an item ⇒ x
When the price of the item increased by 45%, the price will be ⇒ 1.45 x
Then dropped by 20%
So, the final price will be ⇒ (1 - 0.2) * 1.45x = 0.8 * 1.45 x = 1.16 x
By comparing between the original price and the final price
The difference = 1.16 x - x = 0.16x
Percentage of increase = %
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