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When the price of a pressure cooker was increased by 15%, its sale fell by 15%. The effect on the money receipt was ?

No effect

15% decrease

7.5% increase

2.25% decrease

Explanation:

Let the original cost of each cooker be Re. 1 and let the number sold originally be 100.
Total sale proceeds = Rs. (100 x 1) = Rs. 100
New rate = (115% of Re. 1 ) = Rs. 1.15
Number sold now = 85
∴ Sale proceed now = Rs. (1.15 x 85) = Rs. 97.75

So, there is a decrease of 2.25% in the money receipt.

By: Deepak Dawra

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