If price of an article decreases from Rs 240 to Rs 220, when quantity demanded increases from 200 units to 210 units. Find point elasticity of demand?

The formula for the price elasticity of demand using the initial point method is given by:
$$E_d=\frac{\Delta Q}{\Delta P}\times \frac{P_1}{Q_1}$$
Where:Initial Price ($P_1$) = $240$ New Price ($P_2$) = $220$ Change in Price ($\Delta P$) = $P_2-P_1=220-240=-20$ Initial Quantity ($Q_1$) = $200$ New Quantity ($Q_2$) = $210$ Change in Quantity ($\Delta Q$) = $Q_2-Q_1=210-200=10$ Substituting the values into the formula:
$$E_d=\frac{10}{-20}\times \frac{240}{200}$$
$$E_d=-0.5\times 1.2=-0.6$$
The point elasticity of demand is $-0.6$.