New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    If the price of the cooking gas is increased by 15%, by

    how many percent should a family reduce its consumption so as not to exceed its budget on cooking gas?
    A 14% Correct Answer Incorrect Answer
    B 13% Correct Answer Incorrect Answer
    C 17% Correct Answer Incorrect Answer
    D 13(1/23)% Correct Answer Incorrect Answer

    Solution

    Let the original consumption be 100 units.

    Price goes up by 15%, so new price per unit becomes 115% of the original.

    To keep the total cost the same = 100/115 × 100 = 86.96 units

    So, new consumption = 86.96 units

    Reduction = 100 - 86.96 = 13.04 units

    Percentage reduction = 13.04%

    Practice Next