Question
Due to a 20% hike in the price of cooking oil, how much
should consumption be decreased to keep the total cost the same?Round your answer to the nearest integer.Solution
ATQ,
Initial price = Rs. 100m, consumption = n
Initial expenditure = 100mn
New price = 120m
New consumption = 100mn ÷ 120m = 100n ÷ 120
Decrease = n - (100n ÷ 120) = 20n ÷ 120
Required percent = (20n ÷ 120) ÷ n × 100 = 2000 ÷ 120 ≈ 17%
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