MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Elasticity of Demand

If old price ...

Question

If old price is 20 and new price is 10, percentage change in price is .

A

50%

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

-50%

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

10%

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

30%

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B -50%
Percentage change in price is given by
$\frac{Δ P}{P}$ = -10/20 * 100 = -50%

Suggest Corrections

thumbs-up

0

Similar questions

Q. The ratio of old price and new price of an item is 3:4. If old price is $15, new price is ____

Q. The price of a chair is reduced by

25

%. What is the ratio of :
i) change in price to the old price.
ii) old price to the new price

Q. A boat priced at INR 170000 is increased in price by 20%. What is the new price?
The new price is ______________of the old price . As a decimal this is ____________ .
The new price is ____________________ .

The price of a car increased by $5 %$ . If the new price is ₹ $22, 050$ , then what was the old price?

The price of a car increased by $5 %$ . If the new price is ₹ $22, 050$ , then what was the old price?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Elasticity of Demand

ECONOMICS

Watch in App

explore_more_icon

Explore more

Elasticity of Demand

Standard XI Economics

Join BYJU'S Learning Program

CrossIcon