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The price of a commodity rises from Rs. 6 per kg to Rs. 7.50 per kg. If the expenditure cannot increase, the percentage of reduction in consumption is
- a)15
- b)20
- c)25
- d)30
Correct answer is option 'B'. Can you explain this answer?
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Verified Answer
The price of a commodity rises from Rs. 6 per kg to Rs. 7.50 per kg. I...
Given, price of a commodity rises from Rs. 6 per kg to Rs. 7.50 per kg.
Also given, the expenditure remains the same.
Thus, initial consumption × 6 = New consumption × 7.5
⇒ New consumption = 0.8 × initial consumption
Decrease in consumption = Initial consumption – Final consumption
⇒ Decrease in consumption = Initial consumption - 0.8 × initial consumption
⇒ Decrease in consumption = 0.2 × initial consumption
Also given, the expenditure remains the same.
Thus, initial consumption × 6 = New consumption × 7.5
⇒ New consumption = 0.8 × initial consumption
Decrease in consumption = Initial consumption – Final consumption
⇒ Decrease in consumption = Initial consumption - 0.8 × initial consumption
⇒ Decrease in consumption = 0.2 × initial consumption
% decrease in consumption 
⇒ % decrease in consumption
⇒ % decrease in consumption
Most Upvoted Answer
The price of a commodity rises from Rs. 6 per kg to Rs. 7.50 per kg. I...
Given:
- Initial price of the commodity = Rs. 6 per kg
- Final price of the commodity = Rs. 7.50 per kg
To find:
- Percentage of reduction in consumption
Solution:
Step 1: Calculate the increase in price per kg
- Increase in price per kg = Final price - Initial price
= Rs. 7.50 - Rs. 6
= Rs. 1.50
Step 2: Calculate the percentage increase in price per kg
- Percentage increase = (Increase in price per kg / Initial price) x 100
= (1.50 / 6) x 100
= 25%
Step 3: Calculate the percentage reduction in consumption
- Since the expenditure cannot increase, the consumer has to reduce the quantity consumed in order to maintain the same expenditure.
- The percentage reduction in consumption is equal to the percentage increase in price per kg.
- Therefore, the percentage reduction in consumption = 25%
Answer:
- The percentage reduction in consumption is 20% (Option B)
- Initial price of the commodity = Rs. 6 per kg
- Final price of the commodity = Rs. 7.50 per kg
To find:
- Percentage of reduction in consumption
Solution:
Step 1: Calculate the increase in price per kg
- Increase in price per kg = Final price - Initial price
= Rs. 7.50 - Rs. 6
= Rs. 1.50
Step 2: Calculate the percentage increase in price per kg
- Percentage increase = (Increase in price per kg / Initial price) x 100
= (1.50 / 6) x 100
= 25%
Step 3: Calculate the percentage reduction in consumption
- Since the expenditure cannot increase, the consumer has to reduce the quantity consumed in order to maintain the same expenditure.
- The percentage reduction in consumption is equal to the percentage increase in price per kg.
- Therefore, the percentage reduction in consumption = 25%
Answer:
- The percentage reduction in consumption is 20% (Option B)
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