On decreasing the price of a fan by 30 percent, its sales increases by 40 percent. What will be the percentage decrease in its revenue?
Answer & explanation
Correct answer: option 1
Revenue = Sale × Price
Initial : Final
Price 10 : 7
Sale 5 : 7
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Revenue 50 : 49
Required percentage = \(\frac{1}{50}\) × 100 = 2%