Quant Exam > Quant Questions > On decreasing the price of TV set by 30%, its...
Start Learning for Free
On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?
- a)10% increase
- b)10% decrease
- c)16% increase
- d)16% decrease
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
On decreasing the price of TV set by 30%, its sale is increased by 20%...
Lets take the orignal price as 100. Then on decreasing the price by 30% we get= 70. Now the sale is increased by 20%=84 (20% of 70 or 20/100*70= 14 now 70+14=84) So we can say that Cp=100 and Sp=84 Thats loss as cp is bigger. Loss=16 Loss%=16/100*100 =16%
Most Upvoted Answer
On decreasing the price of TV set by 30%, its sale is increased by 20%...
Lets take the price as 100. Then on decreasing the price by 30% we get= 70. Now the sale is increased by 20%=84. So we can say that Cp=100 and Sp=84 Thats loss as cp is bigger. Loss=16 Loss%=16/100×100 =16% So the ans is D. 16% decrease.
Free Test
FREE
| Start Free Test |
Community Answer
On decreasing the price of TV set by 30%, its sale is increased by 20%...
Effect on Revenue Received by the Shopkeeper:
Let's assume the original price of the TV set is $100.
1. Decrease in Price:
When the price of the TV set is decreased by 30%, the new price becomes 70% of the original price.
New price = 70/100 * $100 = $70
2. Increase in Sale:
After reducing the price, the sale of the TV set increases by 20%.
Increase in sale = 20/100 * $70 = $14
3. Calculation of Revenue:
The revenue received by the shopkeeper is calculated by multiplying the price of the TV set by the number of units sold.
Original revenue = $100 * 1 = $100
New revenue = $70 * 1.2 = $84
4. Calculation of the Effect on Revenue:
The effect on revenue can be calculated by finding the percentage change in revenue.
Change in revenue = New revenue - Original revenue = $84 - $100 = -$16
To find the percentage change, we divide the change in revenue by the original revenue and multiply by 100.
Percentage change = (Change in revenue / Original revenue) * 100 = (-$16 / $100) * 100 = -16%
Therefore, the effect on the revenue received by the shopkeeper is a decrease of 16%.
Hence, the correct answer is option D) 16% decrease.
Let's assume the original price of the TV set is $100.
1. Decrease in Price:
When the price of the TV set is decreased by 30%, the new price becomes 70% of the original price.
New price = 70/100 * $100 = $70
2. Increase in Sale:
After reducing the price, the sale of the TV set increases by 20%.
Increase in sale = 20/100 * $70 = $14
3. Calculation of Revenue:
The revenue received by the shopkeeper is calculated by multiplying the price of the TV set by the number of units sold.
Original revenue = $100 * 1 = $100
New revenue = $70 * 1.2 = $84
4. Calculation of the Effect on Revenue:
The effect on revenue can be calculated by finding the percentage change in revenue.
Change in revenue = New revenue - Original revenue = $84 - $100 = -$16
To find the percentage change, we divide the change in revenue by the original revenue and multiply by 100.
Percentage change = (Change in revenue / Original revenue) * 100 = (-$16 / $100) * 100 = -16%
Therefore, the effect on the revenue received by the shopkeeper is a decrease of 16%.
Hence, the correct answer is option D) 16% decrease.
|
Explore Courses for Quant exam
|
|
Similar Quant Doubts
On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer?
Question Description
On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer?.
On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer?.
Solutions for On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant.
Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice On decreasing the price of TV set by 30%, its sale is increased by 20%. What is the effect on the revenue received by the shopkeeper?a)10% increaseb)10% decreasec)16% increased)16% decreaseCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Quant tests.
|
|
Explore Courses for Quant exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup