Question

Suppose the price of a certain item decreases by 5.2% a total of 5 times, and then increases by 1.4% a total of 3 times. By what overall percent did the price decrease?

Round your answer to the nearest tenth of a percent.

Answer 1

So percent decrement in price will be 20.17 %

Explanation:

Let the price of item is x

It is given that price is decreases 5.2 % five times and increases 1.4 % three times

So price of item after detriment of 5.2 % five times and increment of of 1.4 % three times =
`x(1-5.2%)^(5)* (1-1.4%)^3`

=
`x*0.948^5* 1.014^3`

Decrements in price =
`x-x*0.948^5* 1.014^3`

%v decrements =
`(x-x*0.948^5* 1.014^3)/(x)* 100=20.17`

So percent decrement in price will be 20.17 %