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Asked in a 2000 paperModerate

There is a 30% increase in the price of an article in the first year, a 20% decrease in the second year and a 10% increase in the next year. If the final price of the article is Rs. 2288, then what was the price of the article initially?

Correct answer: C. Rs. 2000

  • A. Rs. 1500
  • B. Rs. 1800
  • C. Rs. 2000
  • D. Rs. 2400
  • E. None of these

Explanation

The successive price multiplier is 1.30 x 0.80 x 1.10 = 1.144. Therefore, the initial price was Rs. 2288 / 1.144 = Rs. 2000, while option b, Rs. 1800, results from subtracting the percentage changes instead of applying them successively.

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