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When the price of an article is increase...

When the price of an article is increased by `p%,` then quantity of sales decrease by `10%` but sales revenue increases by `10%` Find p.

A

20

B

`22(2)/(9)`

C

`18(2)/(11)`

D

30

Text Solution

AI Generated Solution

The correct Answer is:
To solve the problem step by step, we will follow the reasoning provided in the video transcript and derive the value of \( p \). ### Step-by-Step Solution: 1. **Assume the Initial Price**: Let's assume the initial price of the article is \( 100 \) (in any currency). **Hint**: Start with a simple number to make calculations easier. 2. **Calculate New Price After Increase**: If the price is increased by \( p\% \), the new price can be calculated as: \[ \text{New Price} = 100 + \frac{p}{100} \times 100 = 100 + p \] **Hint**: Remember that increasing by \( p\% \) means adding \( \frac{p}{100} \) of the original price to the original price. 3. **Calculate New Quantity After Decrease**: If the quantity sold decreases by \( 10\% \), the new quantity sold is: \[ \text{New Quantity} = 100 - 10\% \text{ of } 100 = 100 - 10 = 90 \] **Hint**: Decreasing by \( 10\% \) means subtracting \( 10\% \) of the original quantity from the original quantity. 4. **Calculate Revenue**: The revenue before the changes is: \[ \text{Initial Revenue} = \text{Price} \times \text{Quantity} = 100 \times 100 = 10000 \] After the price increase and quantity decrease, the new revenue is: \[ \text{New Revenue} = \text{New Price} \times \text{New Quantity} = (100 + p) \times 90 \] According to the problem, the new revenue increases by \( 10\% \): \[ \text{New Revenue} = 10000 + 10\% \text{ of } 10000 = 10000 + 1000 = 11000 \] **Hint**: Remember that revenue is calculated as price multiplied by quantity. 5. **Set Up the Equation**: Now we can set up the equation based on the new revenue: \[ (100 + p) \times 90 = 11000 \] **Hint**: This equation relates the new price and quantity to the new revenue. 6. **Solve for \( p \)**: Expanding the equation: \[ 9000 + 90p = 11000 \] Rearranging gives: \[ 90p = 11000 - 9000 \] \[ 90p = 2000 \] Dividing both sides by \( 90 \): \[ p = \frac{2000}{90} = \frac{200}{9} \] **Hint**: Isolate \( p \) by moving all other terms to the other side of the equation. 7. **Calculate the Final Value**: To get a decimal value: \[ p \approx 22.22 \] **Hint**: You can convert fractions to decimals for easier interpretation. ### Final Answer: The value of \( p \) is approximately \( 22.22\% \).

To solve the problem step by step, we will follow the reasoning provided in the video transcript and derive the value of \( p \). ### Step-by-Step Solution: 1. **Assume the Initial Price**: Let's assume the initial price of the article is \( 100 \) (in any currency). **Hint**: Start with a simple number to make calculations easier. ...
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