CMA Foundation · Fundamentals of Business Mathematics and Statistics · Ratios, Variations and Proportions
The number of units of a product demanded in a Surat market varies inversely with its price per unit. At a price of ₹40, the demand is 600 units. If the price rises to ₹50, what will the demand be?
Demand will fall to 480 units. Because demand varies inversely with price, price multiplied by quantity stays constant at 40 × 600 = 24,000. Dividing 24,000 by the new price of ₹50 gives 480 units.
- A750 units
- B480 unitsCorrect
- C540 units
- D400 units
Explanation
Price × demand is constant: 40 × 600 = 24,000. New demand = 24,000/50 = 480 units. Check: 50 × 480 = 24,000. The option 750 results from treating the relation as direct (600 × 50/40).
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