When the price of an item was reduced by 20%, then its sales increased by x%. If there is an increase of 60% in the receipt of the revenue, then the value of x is:
Let the price of one article =1 Rs.
After the reduction in the price, the new price of the article $$=\times{1\times 80}{100}=0.8$$Rs.
Let initial consumption of the good =100
New consumption of the good=100+x,
After Increase in the revenue, new revenue =160% of initial revenue $$=\dfrac{160\times 100}{100}$$
Hence, $$(100+x)\times 0.8=\dfrac{160\times 100}{100}$$
$$\Rightarrow 80+0.8x=160$$
$$\Rightarrow 0.8x=160-80=80$$
$$\Rightarrow x=\dfrac{80}{0.8}=100$$
Hence, increase in the sales is $$100\%$$
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