Identify the current formula for elasticity of demand.

$e_d=\frac{ΔQ}{Q}×\frac{P}{ΔP}$ $e_d=\frac{Q}{ΔQ}×\frac{P}{ΔP}$ $e_d=\frac{Q}{ΔQ}×\frac{ΔP}{P}$ $e_d=\frac{Q}{Q}×\frac{ΔP}{P}$

$e_d=\frac{ΔQ}{Q}×\frac{P}{ΔP}$

The correct answer is option(1) : $e_d=\frac{ΔQ}{Q}×\frac{P}{ΔP}$ $e_d$=percentage change in demand for the good/percentage change in the price of the good $e_d=\frac{ΔQ}{Q}×\frac{P}{ΔP}$