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Because of scarcity of rainfall, the price of a land decrease by 12% and its production also decrease by 4%. What is the total effect on revenue ?
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- Loss of 16%
- Gain of 15%
- Loss of 15.48%
- Gain of 15.48%
- Loss of 15.52%
Correct Option: E
Net effect = [- 12 - 4 + {(-12) (-4)/100}]%
= (-16 + 0.48)%
= -15.52%
