The price of a commodity decreased by 10% each year. If the present price is Rs. 1000. Then the % decrease in price after 3 years is:
1). 19%
2). 21.7%
3). 27.1 %
4). 30%
Given, price of a commodity decreased by 10% each year.
The present price is RS. 1000.
Price after 1 year = 1000 – 10% of 1000 = 0.9 × 1000 = Rs. 900
Price after 2 years = 900 – 10% of 900 = 0.9 × 900 = Rs. 810
Price after 3 years = 810 – 10% of 810 = 0.9 × 810 = Rs. 729
Total decrease in price = 1000 – 729 = Rs. 271
$(\% \;decrease\;in\;3\;years = \frac{{271}}{{1000}} \times 100\% = 27.1)$10. Which bank has announced the launch of 'Nexxt Credit Card' ?