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17 Feb 2017, 03:03
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Question Stats:
69% (02:35) correct
31%
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A certain retailer decided to raise its prices by p%. When, as a result, its sales dropped by q%, the retailer found that its total revenue was unchanged. Which of the following correctly expresses q in terms of p?
A. p
B. 1/p
C. p/(1−p)
D. 100/(100+p)
E. 100p/(100+p)
A. p
B. 1/p
C. p/(1−p)
D. 100/(100+p)
E. 100p/(100+p)
17 Feb 2017, 04:23
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i dont know easy way, but i calculated this way:
lets say begining number of sales number was 10 and sales price was 10 so total sales was 100
after P% increase lets say 20% price became 12
but total sales did not changed so was still 100
so number of items sold was aprox 8.3. ( bad numbers i know)
so drop q% was aprox 16.6%
if we subs. numbers from answers we will get E
lets say begining number of sales number was 10 and sales price was 10 so total sales was 100
after P% increase lets say 20% price became 12
but total sales did not changed so was still 100
so number of items sold was aprox 8.3. ( bad numbers i know)
so drop q% was aprox 16.6%
if we subs. numbers from answers we will get E
22 Feb 2017, 02:01
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these kind of problems can be solved easily by plug in some no. and whenever we see variables in questions the easy way to tackle them by plugging in no. for this we can take some easy no such as let's say revenue=sales(#of products)*price
now initial revenue was 300=30*10 and now after increasing price which is P by 50% we get price =45*q=300 and solving for q we get 20/3 and to calculate declining % we do 1-20/3=10/30*100 that 100/3 so q is =100/3% now we can substitute these values in options , that only option E provides 100/3 hence answer must be E
now initial revenue was 300=30*10 and now after increasing price which is P by 50% we get price =45*q=300 and solving for q we get 20/3 and to calculate declining % we do 1-20/3=10/30*100 that 100/3 so q is =100/3% now we can substitute these values in options , that only option E provides 100/3 hence answer must be E
