The price of milk was first increased by 10% and then decreased by 20%.What is the net percentage change in final price of milk?
Question
Solution 1
Let's assume the initial price of the milk is $100 for simplicity.
Step 1: Increase by 10% The price of the milk is increased by 10%. So, the new price is 100 + 10% of 100 = $110.
Step 2: Decrease by 20% Now, the price of the milk is decreased by 20%. So, the new price is 110 - 20% of 110 = $88.
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