The price of sugar increased by 10%. What percentage of consumption of sugar is to be reduced in order to keep the expenditure on in sugar at the same level?
Created: 2 years ago |
Updated: 1 year ago
best ans
If the price of a commodity increases by r%, then the reduction in consumption so as not to increase the expenditure = [r/(100 + r)] × 100%Percentage reduction in consumption = [10/(100 + 10)] × 100 = 1000/110 = 9.09%
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