Multiple Choice Questions on When the price of a pressure cooker was increased by 15 its sale fell by 15 The effect on the ........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

When the price of a pressure cooker was increased by 15 its sale fell by 15 The effect on the ...........

Quantitative Aptitude ( CCS) Percentage
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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

    Incorrect Answer

    15% decrease

    Incorrect Answer

    7.5% increase

    Incorrect Answer

    2.25% decrease

    Correct Answer
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    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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