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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 :
$$\eqalign{ & = \left[ {\frac{R}{{\left( {100 + R} \right)}} \times 100} \right]\% \cr & = \left( {\frac{{15}}{{115}} \times 100} \right)\% \cr & = \frac{{300}}{{23}}\% \cr & = 13\frac{1}{{23}}\% \cr} $$

This Question Belongs to Arithmetic Ability >> Percentage

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