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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?
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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.
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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.
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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?
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