Q.The tax on a commodity is diminished by 20% and its consumption
increases by 15%. Find the effect on revenue.
Ans. X = -20 since the tax is diminished
Y = 15 since consumption is increased
Effect on revenue = X + Y + XY = -20+15- 20x15 = -8
100 100
Since the answer is negative the revenue is decreased by 8%
If the answer is positive the revenue will increase.
If the tax diminished and the consumption increased is by the same percentage
then the formula will be as below
Revenue decreased =
Q. If the compound interest on a certain sum for 2 years at 10%p.a is Rs. 2100.
Find the simple interest on it at the same rate of interest for 2 years.
Ans. The formula for finding the simple interest for the same rate of
interest is as below.
S.I = C.I X 200
200+r
S.I = 2100 X 200
210
S.I = 2000 Rs.
Q. The compound interest on a sum of money for 2 years is Rs. 52 and simple interest for 2 years at the same rate is Rs. 50. Find the rate of interest.
Ans. The formula for finding the rate of interest when the compound and
simple interest is given is as below.
R = 200 X Diff Diff = 52-50 = 2
S.I
R = 200 x 2 = 8
50
By using the above formulae you can solve the questions quickly
by avoiding lots of steps.
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