Answer:
Suppose that you have an initial quantity A.
If you have an increase of X%, the new quantity (NQ) is written as:
NQ = A + A*(X%/100%) = A*(1 + X%/100%).
Now, if we have an increase of 2% then:
NQ = A*(1 + 2%/100%) = A*(1 + 0.02)
And no we have another increase of 1%, then:
NQ = (A*(1 + 0.02))*(1 + 1%/100%) = A*(1 + 0.02)*(1 + 0.01) = A*1.0302
The single decimal multiplier that you can use to increase by 2% followed by a 1% increase is 1.0302
