New Enroll for RBI, PFRDA & NABARD Intro Class! April 18 at 9:15 PM

    Question

    If the price of wheat rises by 40%, how much percentage

    reduction in consumption is required so that the total expense remains constant?Give your answer rounded to the nearest integer.
    A 14 % Correct Answer Incorrect Answer
    B 20 % Correct Answer Incorrect Answer
    C 18 % Correct Answer Incorrect Answer
    D 29 % Correct Answer Incorrect Answer

    Solution

    ATQ,

    Initial price = Rs. 100m, consumption = n kg

    Initial expenditure = 100mn

    New price = 140m

    New consumption = 100mn ÷ 140m = 100n ÷ 140

    Decrease = n - (100n ÷ 140) = 40n ÷ 140

    Required percent = (40n ÷ 140) ÷ n × 100 = 4000 ÷ 140 ≈ 29%

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