New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    If the price of a cooking oil bottle is reduced by 30%,

    by what percentage should a family increase its consumption of cooking oil to ensure that their total expenditure on cooking oil remains unchanged?
    A 20.20% Correct Answer Incorrect Answer
    B 33.33% Correct Answer Incorrect Answer
    C 66.67% Correct Answer Incorrect Answer
    D 42.86% Correct Answer Incorrect Answer

    Solution

    ATQ;
    Let initial price of cooking oil be Rs. 100 per liter and initial consumption be 1 liter
    So, initial total expenditure = Rs. 100
    Reduced price of cooking oil = {100 – (30% of 100)} = Rs. 70
    So, new consumption = {100/70} = (10/7) liters
    Therefore, percentage increased = [{(10/7) – 1}/1] × 100 = 42.86%

    Practice Next