Question

16) The price of petrol increased by 10% Six months later it increased again by 10% There were no other price changes. What was the total percentage increase in the price of petrol?​

Answer 1

When the price of petrol increases by 10% and then by another 10%, you can calculate the total percentage increase as follows:

1. First, you increase the price by 10%: 100% (original price) + 10% = 110%.

2. Then, you increase the result by another 10%: 110% + 10% = 121%.

So, the total percentage increase in the price of petrol is 121%.

Answer 2

To calculate the total percentage increase in the price of petrol, we need to consider the two separate 10% increases.

Let's assume the original price of petrol is 100 units.

First, the price of petrol increased by 10%, which means it increased by 10 units and became 110 units.

Then, six months later, the price increased again by 10% of the new price of 110 units. This means an increase of 11 units (10% of 110) and a new price of 121 units.

To calculate the total percentage increase, we can compare the final price of 121 units to the original price of 100 units.

The percentage increase can be calculated using the formula:

Percentage Increase = ((Final Value - Initial Value) / Initial Value) * 100

Substituting the values:

Percentage Increase = ((121 - 100) / 100) * 100 = 21%

Therefore, the total percentage increase in the price of petrol is 21%.

[[10]](https://ru.scribd.com/document/430025239/Guide-to-Economics-TB)