The price of rice in the year 1995 has increased by 10% forms that of the previous year . In 1996 the price has decreased by 5% . In 1996, what was the increase in price with respect to that of 1994 ?
A
4.5%
B
5%
C
5.5%
D
None of these
Correct Answer: 4.5%
Let, The price of rice in the year 1994 = Tk. 100 So, the price of rice in the year 1995 = 100 + 10 = Tk. 110 The price of rice in the year 1996 = 110 - 5.5 = 104.5 The increase in price = 104.5 - 100 = 4.5%