Question
If the price of rice has increased from Rs 40 per kg to
Rs. 60 per kg, by how much percent a person has to decrease his consumption so that his expenditure remains same.Solution
Let the consumption be 100 kg.
When price is Rs.40 per kg, then the expenditure = 100 x 40 = Rs. 4,000.
At Rs.60 per kg,
60 x consumption = 4000
Consumption = 4000/60 = 66.67 kg.
Required decreased % = 100 – 66.67 = 33.33%
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