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Re: The original price of an item was increased by 24 percent. The new pri [#permalink]
Say the price is 100.
Revised price after 1st hike = 100*1.24 = 124
Then next price increases by p%, the net increment = [124p][/100]m - (A)

Final price after 2nd hike = 100*1.55 = 155
Therefore, net increment after 2nd price increase is also equal to 155-124 = 31 - (B)

Equating (A) and (B),
[124P][/100]m = 31
or p = [31*100][/124]m = 25%

Answer (B)
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Re: The original price of an item was increased by 24 percent. The new pri [#permalink]
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Re: The original price of an item was increased by 24 percent. The new pri [#permalink]
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