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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 ?
Answer & Solution
Correct Answer:
Option
B
Reduction in consumption :
$$\eqalign{ & = \left[ {\frac{R}{{\left( {100 + R} \right)}} \times 100} \right]\% \cr & = \left( {\frac{{15}}{{115}} \times 100} \right)\% \cr & = \frac{{300}}{{23}}\% \cr & = 13\frac{1}{{23}}\% \cr} $$
$$\eqalign{ & = \left[ {\frac{R}{{\left( {100 + R} \right)}} \times 100} \right]\% \cr & = \left( {\frac{{15}}{{115}} \times 100} \right)\% \cr & = \frac{{300}}{{23}}\% \cr & = 13\frac{1}{{23}}\% \cr} $$
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