The Price Of A Certain Item Is Increased By 15 %. If A Consumer Wants – InterviewSolution

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1.

The Price Of A Certain Item Is Increased By 15 %. If A Consumer Wants To Keep His Expenditure On The Item Same As Before How Much Percent Must He Reduce His Consumption Of That Item?

Answer»

REDUCTION % in CONSUMPTION

= {R/(100+r) ×100} % =(15/115 × 100)%

= 300/23 % = 13 1/23 %.

Reduction % in consumption

= {r/(100+r) ×100} % =(15/115 × 100)%

= 300/23 % = 13 1/23 %.

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