Railways Exam > Railways Questions > If the price of a commodity is increased by 5...
Start Learning for Free
If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?
- a)1/4
- b)1/3
- c)1/2
- d)2/3
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
If the price of a commodity is increased by 50% by what fraction must ...
Required fractional decrease is
{R = increase/decrease in 1st Quantity)
{R = increase/decrease in 1st Quantity)Most Upvoted Answer
If the price of a commodity is increased by 50% by what fraction must ...
To understand why the correct answer is option 'B', let's break down the problem step by step.
Let's assume the initial price of the commodity is 100 units. When the price is increased by 50%, the new price becomes 150 units.
Now, we need to find the fraction by which the consumption of the commodity must be reduced to maintain the same expenditure.
Let's consider the initial consumption of the commodity to be 'x' units. The initial expenditure would be the price multiplied by the consumption, which is 100 units * x units = 100x units.
After the price increase, the consumption needs to be reduced so that the expenditure remains the same. Let's call the reduced consumption 'y' units.
The new expenditure would be the new price multiplied by the reduced consumption, which is 150 units * y units = 150y units.
Since the expenditure needs to remain the same, we have the equation:
100x units = 150y units
Now, let's solve for y in terms of x:
150y units = 100x units
Dividing both sides of the equation by 150 units:
y = (100x units) / (150 units)
Simplifying the fraction:
y = (2x units) / (3 units)
From the equation, we can see that the reduced consumption 'y' is equal to (2x units) / (3 units).
Comparing this with the given options, we can see that the correct fraction is 2/3, which is option 'B'.
Let's assume the initial price of the commodity is 100 units. When the price is increased by 50%, the new price becomes 150 units.
Now, we need to find the fraction by which the consumption of the commodity must be reduced to maintain the same expenditure.
Let's consider the initial consumption of the commodity to be 'x' units. The initial expenditure would be the price multiplied by the consumption, which is 100 units * x units = 100x units.
After the price increase, the consumption needs to be reduced so that the expenditure remains the same. Let's call the reduced consumption 'y' units.
The new expenditure would be the new price multiplied by the reduced consumption, which is 150 units * y units = 150y units.
Since the expenditure needs to remain the same, we have the equation:
100x units = 150y units
Now, let's solve for y in terms of x:
150y units = 100x units
Dividing both sides of the equation by 150 units:
y = (100x units) / (150 units)
Simplifying the fraction:
y = (2x units) / (3 units)
From the equation, we can see that the reduced consumption 'y' is equal to (2x units) / (3 units).
Comparing this with the given options, we can see that the correct fraction is 2/3, which is option 'B'.
|
Explore Courses for Railways exam
|
|
Similar Railways Doubts
Top Courses for RailwaysView all
If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer?
Question Description
If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? for Railways 2025 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Railways 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer?.
If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? for Railways 2025 is part of Railways preparation. The Question and answers have been prepared according to the Railways exam syllabus. Information about If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Railways 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer?.
Solutions for If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Railways.
Download more important topics, notes, lectures and mock test series for Railways Exam by signing up for free.
Here you can find the meaning of If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer?, a detailed solution for If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice If the price of a commodity is increased by 50% by what fraction must its consumption be reduced so as to keep the same expenditure on its consumption?a)1/4b)1/3c)1/2d)2/3Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice Railways tests.
|
|
Explore Courses for Railways exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup