When the price of the TV set was increased by 30%, the number of TV slots sold decreased by 20%.What was the effect on sales ?
a. 8% decrease
b. 8% increase
c. 4% decrease
d. 4% increase
Answers
Answer id d)4% increase
Let we consider initially the value of one TV set is 100 and TV set solding per day is also 100.
Hence the total income from TV's in a day was 100*100=10000.
Now, as given condition when TV prices are increased by 30%, sell was decreased by 20%.
Hence now the price of one TV set is 130 and TV sets selling per day are 80.
Hence the income from TV sets will become = 130*80 = 10400.
Which is increased from the past income by 400.
Hence the effect on sales is increased by 4%.
Answer:
consider initially the value of one TV set is 100 and TV set solding per day is also 100.
Hence the total income from TV's in a day was 100*100=10000.
Now, as given condition when TV prices are increased by 30%, sell was decreased by 20%.
Hence now the price of one TV set is 130 and TV sets selling per day are 80.
Hence the income from TV sets will become = 130*80 = 10400.
Which is increased from the past income by 400.
Hence the effect on sales is increased by 4%.
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