The price of certain item is increased by 15%. If a consumer
The price of certain item is increased by 15%. If a consumer wants to keep his expenditure on the item the same as before, how much percent must he reduce his consumption of that item?
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B
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Answer is : 13 (1/23)
Explanation:
Formula
Percentage decrease = \(\frac{p\times m}{p+m},\) where m is the original percentage and p is price.Let us Consider Initial price is 100
and m is 15% => 15
Therefore
Percentage decrease in sugar case
\(=\frac{100 \times 15}{100+15}\)
\(=\frac{1500}{115}\)
\(=\frac{300}{23}\)
=13 + \(\frac{1}{23} \)% decrease.
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