When the price of commodity is decreased by 45%, the quantity of cloth sold increased by 30%. What was the effect on gross receipt of the shop?
Answer & explanation
Correct answer: option 3
Original : New
Price: 20 : 11 [45% = \(\frac{9}{20}\)]
Qty : 10 : 13 [30% = \(\frac{3}{10}\)]
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Receipt: 200 : 143
200 : 143 ⇒ 53 (decrease)
Decreased percentage = \(\frac{53}{200}\) × 100 = 26.5%