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?
Answer & explanation
Correct answer: option 3
Formulae of net effect:
x + y + \(\frac{xy }{100 }\)
10 - 20 + \(\frac{-200 }{100 }\) = -10 - 2 = -12%
i.e. decrease by 12%