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The price of an article decreased by 5% in the first year, increased by 10% in the second year and again decreased by 20% in the third year. If the difference between the price of the article in the first year and that in the third year is Rs. 20520, then what was the initial price of the article?

The price of an article decreased by 5% in the first year, increased by 10% in the second year and again decreased by 20% in the third year. If the difference between the price of the article in the first year and that in the third year is Rs. 20520, then what was the initial price of the article? Correct Answer Rs. 180000

Let the initial price of the article be 100x.

So, the price of article in first year = 100x × 95/100 = 95x

The price of article in second year = 95x × 110/100 = 104.5x

And the price of article in third year = 104.5x × 80/100 = 83.6x

According to the question:

95x – 83.6x = 20520

11.4x = 20520

x = 1800

So, the initial price of the article = 100 × 1800 = Rs. 180000

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