If the purchase price of 2BHK flat rises by 10 percent, the demand for such flats is observed to decrease by 8 percent

Q. If the purchase price of 2BHK flat rises by 10 percent, the demand for such flats is observed to decrease by 8 percent. The price elasticity of the housing demand for 2BHK flats is

                  (rounded off to one decimal place).

Sol: