If the price of a movie ticket increased by 12.5% and the sale of tickets also increased by 8.5% then finds change in income

Correct option is D

​Given:

Percentage change in price = 12.5%
Percentage change in quantity (sale of tickets) = 8.5%

Formula Used:

Percentage Change in Revenue =

​$$[ (1 + (\frac{Percentage \,Change\, in\, Price} {100}) × (1 + (\frac{Percentage \,Change\, in\, Quantity}{100})] - 1$$​​

Solution:

Percentage Change in Revenue = $$[1 + (\frac{12.5}{ 100}) × (1 + \frac{8.5}{ 100})] - 1$$​​
$$( \frac{112.5}{100} × \frac{108.5}{100}) -1 \\\ \\= \frac {112.5 ×108.5 -100000}{100}\\\ \\ = \frac {2206.25}{100} = 22.0625 {\%} \\$$​​

Alternate Method: