Answer:
Revenue, often referred to as "total revenue," is the total amount of money earned by selling a specific quantity of a product or service at a given price. It's calculated by multiplying the number of units sold (quantity) by the price per unit.
The formula for calculating total revenue is:
Total Revenue=Quantity×Price per Unit
In this formula:
Quantity refers to the number of units of the product or service sold.
Price per Unit is the amount of money received for each unit sold.
To get the revenue for a specific set of numbers, you need to know the quantity of units sold and the price per unit for each of those numbers. Multiply the quantity of units sold by the price per unit for each number to calculate the revenue for that particular number. Then, sum up the revenues for all the numbers to get the total revenue.
For example:
Suppose you sold 10 items at $20 each and 5 items at $30 each. The revenue for each set of numbers would be:
For 10 items at $20 each:
Revenue=10×20=200
For 5 items at $30 each:
Revenue=5×30=150
To find the total revenue for both sets, simply add the individual revenues:
Total Revenue=200+150=350