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The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.?
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The price of a commodity increased by 20% in the first year, decreased...
Given Information:
The price of a commodity increased by 20% in the first year, decreased by 30% in the second year, and increased by 40% in the third year.
Calculating the Average Increase:
To find the average increase for these three years, we need to calculate the overall percentage change in the price of the commodity over the three-year period.
Let's assume the initial price of the commodity is $100.
First Year:
The commodity price increased by 20% in the first year.
20% of $100 = $20
So, the price increased by $20 and became $120.
Second Year:
The commodity price decreased by 30% in the second year.
30% of $120 = $36
So, the price decreased by $36 and became $84.
Third Year:
The commodity price increased by 40% in the third year.
40% of $84 = $33.60
So, the price increased by $33.60 and became $117.60.
Calculating the Overall Percentage Change:
To calculate the overall percentage change, we need to find the difference between the final price and the initial price, and then express it as a percentage of the initial price.
Final price = $117.60
Initial price = $100
Difference = $117.60 - $100 = $17.60
Percentage change = (Difference / Initial price) * 100
= ($17.60 / $100) * 100
= 17.6%
Conclusion:
The overall percentage change in the price of the commodity over the three-year period is 17.6%. Therefore, the average increase for these three years is 17.6%.
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The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.?
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The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.?.
The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The price of a commodity increased by 20% in the first year, decreased by 30% in the second year and increased by 40% in the third year. Find the average increase for these three years.?.
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