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Increasing the original price of an article by 15 percent

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Increasing the original price of an article by 15 percent [#permalink] New post 05 Feb 2012, 15:25
00:00
A
B
C
D
E

Difficulty:

  25% (low)

Question Stats:

81% (01:55) correct 19% (00:47) wrong based on 75 sessions
Increasing the original price of an article by 15 percent and then increasing the new price by 15 percent is equivalent to increasing the original price by

A) 32.25%
B) 31.00%
C) 30.25%
D) 30.00%
E) 22.50%
[Reveal] Spoiler: OA

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Re: Increasing the original price of an article by 15 percent [#permalink] New post 05 Feb 2012, 15:41
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fiendex wrote:
Increasing the original price of an article by 15 percent and then increasing the new price by 15 percent is equivalent to increasing the original price by

A) 32.25%
B) 31.00%
C) 30.25%
D) 30.00%
E) 22.50%


You can do this by approximation, or with straight math by calculating 100*1.15^2.

Or step by step: if you increase 100 by 15% you'll get 115, then if you increase 115=100+15 by 15% again, 100 will gain 15 again and 15 will gain its 15% which is 2.25, so total gain is 15+2.25=17.25 --> 115+17.25=132.25.

Answer: A.

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Re: Increasing the original price of an article by 15 percent [#permalink] New post 11 Jul 2014, 00:10
Initial Price = 100

15% increase = 115

Again 15% increase on new price = 115 + 115 * \frac{15}{100}

= 115 + 117.25

= 132.25

Percentage Increase = 132.25 - 100 = 32.25%

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Re: Increasing the original price of an article by 15 percent [#permalink] New post 11 Jul 2014, 04:50
Original Price be P

Increasing by 15% => New price = 1.15 P
Again Increasing it by 15 % => Final Price = 1.15*1.15 P = 1.3225 { 115^2 = 11*12 25 = 13225}

Hence increase is (1.3225 - 1)*100% = 32.25%
Re: Increasing the original price of an article by 15 percent   [#permalink] 11 Jul 2014, 04:50
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