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Quantitative Aptitude
mediumQ. No. 5830-the-price-of-an-item-is-663-if-it-increases-by-20-percent-what-is-the-new-price

The price of an item is ₹663. If it increases by 20 percent, what is the new price?

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The percentage expression “The price of an item is ₹663. If it increases by 20 percent, what is the new price” is evaluated with New value = original value × (1 + increase rate)., producing 795.6 as the option-specific result.

A795.6
B763.6
C731.6
D745.6
Correct Answer: 795.6Your Answer: A

Explanation

Solving “The price of an item is ₹663. If it increases by 20 percent, what is the new price” requires the relationship New value = original value × (1 + increase rate).; substituting the stated quantities gives 663 × 1.2 = 795.6.; hence 795.6 is the calculated result and option A is correct.

Important Notes

  • Method for “The price of an item is ₹663. If it increases by 20 percent, what is the new price”: use New value = original value × (1 + increase rate)..
  • Substitution for “The price of an item is ₹663. If it increases by 20 percent, what is the new price” produces 663 × 1.2 = 795.6..
  • Verification for “The price of an item is ₹663. If it increases by 20 percent, what is the new price”: retain the stated base quantity throughout the percentage calculation.

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Common questions and clear answers for this topic.

The price of an item is ₹663. If it increases by 20%, what is the new price?

The answer is 795.6. Using New value = original value × (1 + increase rate), 663 × 1.2 = 795.6.

Which formula is used?

New value = original value × (1 + increase rate)

What is Percentage and how is it used in competitive exam problems?

Percentage means per hundred and is used to express a number as a fraction of 100. Formula: Percentage = (Value/Total Value) x 100. In competitive exams like SSC CGL, IBPS Bank PO, and CAT, percentage questions appear as: finding percentage of a number, percentage increase/decrease, percentage change, successive percentage change, and percentage in Data Interpretation.

What are the important percentage-fraction equivalents to memorize?

Important percentage-fraction equivalents: 10% = 1/10, 12.5% = 1/8, 16.67% = 1/6, 20% = 1/5, 25% = 1/4, 33.33% = 1/3, 37.5% = 3/8, 50% = 1/2, 62.5% = 5/8, 66.67% = 2/3, 75% = 3/4. Converting percentages to fractions makes calculations faster. For example: 25% of 480 = 480/4 = 120. Memorizing these fractions is essential for quick Quantitative Aptitude calculations.

How to calculate Percentage Increase and Decrease?

Percentage Increase = (Increase/Original Value) x 100. Percentage Decrease = (Decrease/Original Value) x 100. If price increases by x% then decreases by x%, net effect is a decrease of x squared/100 percent. For Successive Percentage Changes: if first change is a% and second is b%, overall change = a + b + (ab/100) percent. This formula is crucial for profit/loss and interest problems in competitive exams.

How to solve population growth problems using percentage?

Population problems use percentage increase formula. If population is P and annual growth rate is r%, then after n years: Population = P x (1 + r/100)^n. Example: Town population 50,000 grows at 10% per year. After 2 years = 50000 x 1.1 x 1.1 = 60,500. If growth rate decreases, use (1-r/100). These problems appear in SSC CGL, IBPS, and banking exams.

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