The price of a certain item is increased by 15%. If consumer wants to keeps his expenditure on the item same as before, how much percent must he reduce his consumption of that item ?
A. $$10\frac{20}{{23}}\% $$
B. $$13\frac{1}{{23}}\% $$
C. $$16\frac{2}{{3}}\% $$
D. $$15\% $$
Answer: Option B
Solution(By Examveda Team)
Reduction in consumption :$$\eqalign{ & = \left[ {\frac{R}{{\left( {100 + R} \right)}} \times 100} \right]\% \cr & = \left( {\frac{{15}}{{115}} \times 100} \right)\% \cr & = \frac{{300}}{{23}}\% \cr & = 13\frac{1}{{23}}\% \cr} $$
Related Questions on Percentage
A. $$\frac{1}{4}$$
B. $$\frac{1}{3}$$
C. $$\frac{1}{2}$$
D. $$\frac{2}{3}$$
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