Question

price of a product of a company increase by 10% and the turn over increase by 10%,what is the change in quantity sold??​

Answer 1

Answer:

no change in the quantity of product sold

Step-by-step explanation:

same quantity of product sold .as the price increased by 10% simultaneously the turn over increases by 10%

Answer 2

Given:

Increase in price=10%

Increase in turnover=10%

To find:

The change in quantity sold

Solution:

There is a 0% change in the quantity sold.

We can find the change by following the given steps-

We know that the turnover is the product of the quantity sold and the price of the product.

Let the price of the product be Rs.10 and the quantity sold is 100 units.

Turnover of the product=Price×Quantity

=10×100

=Rs.1,000

Now, we know that there is a 10% increase in the price and turnover of the product.

The increased price=10+10% of 10

=10+10/100×10

=10+1

=Rs.11

Also, the increased turnover=1,000+10% of 1,000

=1,000+10/100×1,000

=1,000+100

=Rs.1,100

Now, the new turnover=new price×quanity sold

On putting the values,

1,100=11×quanity sold

1,100/11=quanity sold

100=quanity sold

The quantity sold has remained the same as 100 units.

So, there is no change in the quantity sold of the product.

Therefore, there is a 0% change in the quantity sold.