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      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.
      A 66.67% Correct Answer Incorrect Answer
      B 40% Correct Answer Incorrect Answer
      C 33.33% Correct Answer Incorrect Answer
      D 50% Correct Answer Incorrect Answer
      E 44% Correct Answer Incorrect Answer

      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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