Given:
Tax is decreased by 17%, Consumption increased by 17%
Formula Used: Percentage change in revenue = (change in price) * (change in quantity)
Solution:
New revenue = (1 - 0.17) * (1 + 0.17) = 0.83 * 1.17 = 0.9711
Percentage change = (0.9711 - 1) * 100 = -2.89% (decrease)
Thus, revenue decreases by 2.89%.
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60 Mins English English20 Questions40 Marks12 Mins English English80 Questions160 Marks60 Mins EnglishA number is first increased by 10% and then decreased by 10%. The number so obtained is 80 less than the original number. The original number is
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