When the cost of an article was decreased by 7%, the number of articles sold was increased by 20%. What was the effect (in percentage) on the revenue?
increase of 11.6%
Combined percentage effect on revenue: \((1-0.07)\times(1+0.20)-1 = 0.93\times1.20-1 = 1.116-1 = 0.116\).
Hence, the revenue increases by 11.6%.
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