To answer this item, we let x be the price of each of the ticket and y be the number of sales of the ticket.
Initially, x is equal to Rs. 250. Let P be the collection,
xy = P
250y = P
After the ticket price was lowered, the number of sales becomes 1.5y and the total collection was lowered by 17.5% and becomes 0.825P
x₂y₂ = 0.825P
y₂ = 1.5y
x₂(1.5y) = 0.825P
x₂ = 0.55x
x₂ = (0.55)(250) = 137.5
The new price is now Rs 137.5 which is Rs 112.5 lower than the original price.
