Question : On decreasing the price of a fan by 30%, its sales increase by 40%. What will be the percentage decrease in its revenue?
Option 1: 2% decrease
Option 2: 5% decrease
Option 3: 8% decrease
Option 4: 3% decrease
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Correct Answer: 2% decrease
Solution :
Let the initial amount be 100.
Decrease in 30% = 70
Now increase of 40% on 70 = $\frac{40}{100}\times70=28$
Final price = 70 + 28 = 98
Difference = 100 – 98 = 2
Percentage decrease = $\frac{\text{Difference}}{\text{Initial amount}}\times100$
= $\frac{2}{100}\times100$
= $2$% decrease
Hence, the correct answer is '2% decrease'.
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