The price of an article is decreased by 10%. If the decrease in price is ₹22, find the original and final price of the article.
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Let the initial price of the product be ₹100
Price of a product is increased by 10%
On increase of price by 10% it's cost will be
₹100 + ₹10 = ₹110.
Then price decreased by 20%.
Decrease of 20% on price of ₹110
20/100 × 110 = ₹22
After decrease it's price will be
110 - 22 = ₹88
The final price relative to the initial price
= Initial price - price after 20% decrease
= ₹100 - ₹88
= ₹12
As it is on ₹100 so it will be 12%
Thus there is loss of 12%
Answer there is 12% loss relative to initial price.
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