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    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.
    A 11 % Correct Answer Incorrect Answer
    B 30 % Correct Answer Incorrect Answer
    C 17 % Correct Answer Incorrect Answer
    D 29 % Correct Answer Incorrect Answer

    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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