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The price of an item was first decreased by 18%, but later increased by 24%. If the initial price of the item was Rs. 3650, what is the overall increase in the price of the item?

The price of an item was first decreased by 18%, but later increased by 24%. If the initial price of the item was Rs. 3650, what is the overall increase in the price of the item? Correct Answer Rs. 61.32

Initial price of item = Rs. 3650

Decrement in price = 18% of 3650 = Rs. 657

⇒ Price of item after decrement = 3650 – 657 = Rs. 2993

Increment in price = 24% of 2993 = Rs. 718.32

⇒ Price of item after increment = 2993 + 718.32 = Rs. 3711.32

∴ Overall increase in price = 3711.32 – 3650 = Rs. 61.32

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Concept used:

Effective change = A + B + AB/100

Calculations:

Effective change = -18 + 24 - (18 × 24)/100

⇒ 6 – 4.32 = 1.68% increase 

Overall increase in price = 3,650 × (1.68/100) = 61.32

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