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The ratio of prices of 2 dresses is 10:15.If the price of the first dress is increased by 10% and that of the second dress by Rs.400 then the ratio of their prices is 4:7.What are the initial prices of the dresses ?
  • a)
    91
  • b)
    92
  • c)
    93
  • d)
    94
  • e)
    None of these
Correct answer is option 'D'. Can you explain this answer?
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The ratio of prices of 2 dresses is 10:15.If the price of the first dr...
Answer -D) 94 Explanation : Let the initial price of the dress = 10x and 15x Price of the 1 dress after increment = 10x × (110/100) = 11x Price of the  dress after increment = 15x+400 [11x/(15x+400)] = 4/7 77x = 60x + 1600 17x = 1600 X = 1600/17 = 94.11 = 94
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The ratio of prices of 2 dresses is 10:15.If the price of the first dr...
Given:
Ratio of prices of 2 dresses = 10:15
Let the initial prices of the dresses be 10x and 15x.

When the price of the first dress is increased by 10%, the new price becomes 11x.
When the price of the second dress is increased by Rs. 400, the new price becomes 15x + 400.

The ratio of their prices is given as 4:7.
Therefore, (11x)/(15x + 400) = 4/7

Cross-multiplying, we get:
77x = 60x + 1600
17x = 1600
x = 94.12

Hence, the initial prices of the dresses are:
First dress = 10x = 10(94.12) = Rs. 941.20
Second dress = 15x = 15(94.12) = Rs. 1411.80

Therefore, the correct answer is option D (94).
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Marginal analysis is an important decision-making tool in the business world. Pricing decisions tend to heavily involve analysis regarding marginal contributions to revenues and costs. In business, the practice of setting the price of a product to equal the extra cost of producing an extra unit of output, i.e. the marginal cost of producing the unit, is known as marginal-cost pricing. In the marginal analysis of pricing decisions, if marginal revenue, the increase in revenue from the sale of an additional unit of output, is greater than marginal cost at some level of output, marginal profit is positive, and, therefore, a greater quantity should be produced. Alternatively, if marginal revenue is less than the marginal cost, marginal profit is negative and a lesser quantity should be produced. Accordingly, firms tend to use this analysis to increase their production until marginal revenue equals marginal cost, and then charge a price which is determined by the demand curve. For instance, businesses often set prices close to marginal cost during periods of poor sales. If, for example, an item has a marginal cost of $1.00 and a normal selling price of $2.00, the firm selling the item might wish to lower the price to $1.10 - if demand has waned. The business would choose this approach because the incremental profit of 10 cents from the transaction is better than no sale at all.Which of the following best describes the primary purpose of the author?

The ratio of prices of 2 dresses is 10:15.If the price of the first dress is increased by 10% and that of the second dress by Rs.400 then the ratio of their prices is 4:7.What are the initial prices of the dresses ?a)91b)92c)93d)94e)None of theseCorrect answer is option 'D'. Can you explain this answer?
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