Question

Choose the correct option. Based on past results and behaviour, Supal company found that demand for its product varies inversely with the price of the product. If in 2002, the demand was 1600 units when the price was Rs.5 per unit, what will the demand (to the nearest unit) be in 2012 when the price is Rs. 25 per unit?​

Answer 1

Answer:

405 units

thNks me later

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Answer 2

Given,

Demand is inversely proportional to price,

In 2002,

demand = 1600 units,

price = ₹5/unit.

To find,

Demand in 2012,

when price = ₹25/unit.

Solution,

Firstly, let the demand be denoted by 'd', and the price per unit be 'p'.

Now, it is given that demand varies inversely with respect to price, so, mathematically,

$d \propto\frac{1}{p}$

⇒ $d =k\cdot \frac{1}{p} = \frac{k}{p}$

Where k is the constant of proportionality.

Now, in the year 2002, it is given that,

d = 1600 units, when p = ₹5/unit

So, from the above relation,

$1600=\frac{k}{5}$

Rearranging,

k = 1600×5

⇒ k = 8000

So, we get the value of the constant of proportionality as 8000.

Thus, the relation between 'd' and 'p' becomes,

$d = \frac{8000}{p}$

Using this relation we can find out the demand for 2012 when p = ₹25/unit, as follows,

$d = \frac{8000}{25}$

⇒ d = 320 units.

Therefore, in the year 2012, the demand will be 320 units.