On increasing the price of tickets for a show by 20 % the audience decreases by 30%. What is the effect on revenue?

16% decrease

Assume that:

Initial price → 10

Initial audience → 100

Initial revenue → 1000

After increase:

New price → 12

New audience → 70

New revenue → 840

Thus, percentage decrease in revenue → \(\frac{\text{1000 - 840} }{1000 }\) x 100 = 16%