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If the price of a commodity is increased by 40% by what fraction must its consumption reduced so as to keep the same expenditure on its consumption?1). \(\frac{1}{4}\)2). \(\frac{2}{7}\)3). \(\frac{1}{5}\)4). \(\frac{2}{5}\) |
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Answer» Let the price of the commodity be Rs. 100/kg. The price of a commodity is increased by 40%. So, the new piece the commodity = Rs. 140/kg Let we could get x kg of the commodity initially for a certain amount of money and after increment of the price, we will get y kg of the commodity for the same amount of money. So, we can write now, x × 100 = y × 140 ⇒ y/x = 5/7 So, we can see that for the same amount of money we will get 2 kg less after increment in price where PREVIOUSLY we used to get 7 kg. ∴ The required CONSUMPTION reduced so as to KEEP the same expenditure on its consumption = 2/7. |
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