When the price of a product was increased by 15%, the number sold was decreased by 20%. What was the net effect?
Choose the correct choice from the following answers: A) 8% gain B) 5% loss C) 8% loss D) Cannot be determined E) None of these
Net effect = + 15 – 20 – 15×20/100=−8%   –ve sign indicates loss.   Answer 8% loss
<result>C</result>
When the price of a product was increased by 15%, the number sold was decreased by 20%. What was the net effect?