In a smart city, the number of electric vehicles increased by 18% in 2021 and 22% in 2022. What is the total percentage increase in electric vehicles over the two years?
- AOption (a)
40%
- BOption (b)
41.6%
- COption (c)
46%
- DOption (d)
43.96%
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Correct answer
43.96%
Why this answer is correct
Shortcut Trick
Use the successive percentage formula: x + y + (xy / 100)
Here, x = 18% and y = 22%
Total Increase = 18 + 22 + (18 × 22 / 100)
Total Increase = 40 + 396 / 100 = 40 + 3.96 = 43.96%
∴ The correct answer is 43.96%.
Alternate Method
Given: Increase in 2021 = 18%; Increase in 2022 = 22%.
Assume the initial number of electric vehicles was 100.
⇒ Number after 2021 increase = 100 + (18% of 100) = 118
⇒ Number after 2022 increase = 118 + (22% of 118)
⇒ 22% of 118 = (22 × 118) / 100 = 25.96
⇒ Final number of vehicles = 118 + 25.96 = 143.96
⇒ Total percentage increase = 143.96 − 100 = 43.96%
∴ The correct answer is 43.96%.
Additional Information
Successive Percentage Formula
For two successive changes of a% and b%, the net change is (a + b + ab/100)%. Use positive values for increase and negative values for decrease.
Multiplying Factor Method
Final Value = Initial Value × (1 + r1/100) × (1 + r2/100). For 18% and 22% increases, the factors are 1.18 and 1.22 respectively.
Three Successive Changes
If there is a third change c%, calculate the net of a and b first, then use that result as a new 'a' with the third value 'c'.