Problema Solution
When the price of a product was decreased by 10%,the number solved increased by 30%. What was the increase in the total revenue.
Answer provided by our tutors
Let
p = the price per product
x = the number of products
px = the revenue before the decrease
After the decrease:
p - 0.10p = 0.90p = the price per product
x + 0.30x = 1.30x the number of products sold
0.90p*1.30x = 1.17px the revenue after the decrease
The increase in the total revenue is:
1.17px - px = px(1.17 - 1) = 0.17x or 17%.