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The price of milk has risen by 75%. Find by how much percent a house holder must reduce his consumption so as not to increase his expenditure.
  • a)
      
  • b)
  • c)
      
  • d)
    None
  • e)
    All of the above
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
The price of milk has risen by 75%. Find by how much percent a house h...
Given:
  • The price of milk has increased by 75%.
  • We need to find by what percentage a householder must reduce his consumption so that his expenditure does not increase.
Step 1: Understanding the situation.
If the price of milk has risen by 75%, the price is now 1.75 times what it was before. To keep the expenditure the same, the householder must reduce his consumption in such a way that the total expenditure remains constant.
Step 2: Formula to calculate the percentage reduction in consumption:
The formula to calculate the percentage reduction required is:

In this case, the increase in price is 75%, or 0.75.
Step 3: Substituting the values into the formula:

Percentage reduction = 0.4286 × 100 = 42.86%
Step 4: Simplifying:
The reduction in consumption should be approximately
The householder must reduce his consumption by
Therefore, the correct answer is Option C.
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The price of milk has risen by 75%. Find by how much percent a house h...
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The price of milk has risen by 75%. Find by how much percent a house holder must reduce his consumption so as not to increase his expenditure.a) b)c)d)Nonee)All of the aboveCorrect answer is option 'C'. Can you explain this answer?
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