The price of a product decreases from Rs. 100 to Rs. 60 per unit. If the price elasticity of demand in…

Using the price elasticity of demand formula E_d = -(Delta Q / Delta P) * (P_1 / Q_1), where original price P_1 = Rs. 100, new price P_2 = Rs. 60 (so Delta P = -40), original quantity Q_1 = 30 units, and E_d = 1.5: 1.5 = -(Delta Q / -40) * (100 / 30), which gives Delta Q = (1.5 * 40 * 30) / 100 = 18 units. Adding this increase to the original quantity gives the new quantity demanded Q_2 = 30 + 18 = 48 units.