On reducing the entry fee by 25% in a museum, the number of people coming to the museum increased by 50%. Find the percentage increase or decrease in the collection of the entry fee.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 12.5% increase.
Let original fee = ₹100 and original visitors = 100
Original collection = 100 × 100 = 10000
New fee = ₹75 and new visitors = 150
New collection = 75 × 150 = 11250
Change in collection = [(11250 - 10000)/10000] × 100 = 12.5% increase