Until recently, Bills Bayside Rentals rented a beach cruiser for $12 per hour and would rent 75

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Question:

Until recently, Bill’s Bayside Rentals rented a beach cruiser for $12 per hour and would rent 75 beach cruisers per week. They just dropped the price to $8 and as a result, they now rent 125 beach cruisers per week. Using the midpoint rule, find the price elasticity of demand for Bill’s beach cruisers. Is the demand for the beach cruisers elastic or inelastic? Did their total revenue increase or decrease with the change in price?