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In the new budget, the price of petrol rose by 10%. By how much percent must one reduce the consumption so that the expenditure does not increase? |
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Answer» Percentage increase in price of petrol = 10% Hence, Reduction in consumption while having same expenditure \(=\frac{\text%increase}{100+{\text%increase}}\times{100}\) \(=\frac{10}{100+10}\times{100}\) \(=\frac{1000}{110}={9}\frac{1}{11}\text%\) |
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