SOLUTION: When a museum reduced its admission price by 10%, attendance increased by 20%. How did the reduced price affect the amount of money collected from admissions? A) Money collected

Question 298372: When a museum reduced its admission price by 10%, attendance increased by 20%. How did the reduced price affect the amount of money collected from admissions?
A) Money collected increased 8%. B) Money collected increased 10%.
C) Money collected decreased 8%. D) Money collected decreased 10%.
Answer by ankor@dixie-net.com(22740) (Show Source): You can put this solution on YOUR website!

When a museum reduced its admission price by 10%, attendance increased by 20%.
How did the reduced price affect the amount of money collected from admissions?
:
1.2 * .9 = 1.08; a 8% increase in money collected
:
Let's see what happens using real numbers,
original situation
100 people, paid $10 apiece, $1000
:
Reduced price by 10%, increase by 20%
120 people, paid $9 apiece, $1080
:
80/1000 = .08 * 100 = 8% increase

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