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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?
  • a)
    1/4
  • b)
    2/7
  • c)
    1/5
  • d)
    2/5
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
If the price of a commodity is increased by 40% by what fraction must ...
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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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?a)1/4b)2/7c)1/5d)2/5Correct answer is option 'B'. Can you explain this answer?
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