“The process of changing an initial value more than once is called successive change. When these changes are represented in percentage changes then it is called successive percentage change.”
A good moving from a producer to a customer change hands multiple times with each actor raising the cost by certain percentages is an example of “successive percentage change“. From school maths, the concept “Compound interest” is a special case of successive percentage change with the same percentage change every time.
Let’s understand the concept using this picture:
Here the relationship between the initial and final values is as follows:
We can use this concept directly find:
- Final Value (Initial Value and % changes given)
- Overall Percentage Change (% changes given)
- Initial Value (Final value and % changes given)
This concept is very useful in solving arithmetic and Data Interpretation questions.
Happy Learning !!!
Nazish Hasan Kazmi