The demand is $x = 100 - 2p$ units and the supply is $x = 3p - 20$ units, at a price of ₹$p$. What is the equilibrium price?

Explanation

1. 01

   At equilibrium the quantities are equal: $100 - 2p = 3p - 20$.

2. 02

   $5p = 120$, so $p = 24$ rupees (and 52 units change hands).