Question
Priya deposited Rs. 'p' and Rs. (p + 400) in two schemes, A
and B, for 2 years each. Schemes A and B offer 10% and 12% simple interest respectively. If the total interest from both schemes is Rs. 1,168, calculate the value of 'p'.Solution
ATQ,
Simple interest = Principal × Rate × Time ÷ 100ATQ,
p × 10 × 2 ÷ 100 + (p + 400) × 12 × 2 ÷ 100 = 1168
→ 0.2p + 0.48p + 96 = 1168
→ 0.68p = 1168 - 96 = 1072
→ p = 1072 ÷ 0.68 = 1576
When price elasticity of demand is unity, the total expenditure:
The goods whose demand is not tied with the demand for some other goods are said to haveÂ
Demand analysis includesÂ
The reasons for L-shaped long run average cost curve is/are
In a typical demand schedule, quantity demanded varies
When AR is constant, MR is
Under price discrimination, price will be higher in the market where demand is
Information for pricing decision involves
Movement along a demand curve as a result of change in price is known asÂ
Statement “Price is the amount of money and/or other item with utility needed to acquire a product" is given byÂ
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