When the price of pressure cooker was increased by 15%,

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When the price of pressure cooker was increased by 15%, its sale fell down by 15%. The effect one the money receipt was ?

1. No effect
2. 15% decrease
3. 7.5% increase
4. 2.25% decrease

Correct Option: D

Let the original cost of each cooker be Re. 1 and let the number sold originally be 100.
Total sale proceeds = Rs. (100 x 1) = Rs. 100

New rate = (115% of Re. 1 ) = Rs . 1.15
Number sold now = 85
∴ Sale proceed now = Rs. (1.15 x 85) = Rs. 97.75

So, there is a decrease of 2.25% in the money receipt.