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The price of rice decreased by 20% and then increased by 50%. By what percent the consumption need to be increased/decreased so that the expenditure on rice remains same?
  • a)
    16.67
  • b)
    20.24
  • c)
    15.55
  • d)
    60.12
  • e)
    54.52
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
The price of rice decreased by 20% and then increased by 50%. By what...

Given Information:
- Initial decrease in price of rice: 20%
- Subsequent increase in price of rice: 50%

Calculation:
Let the initial price of rice be 100. After a 20% decrease, the price becomes 80. After a 50% increase, the price becomes 120.

Let initial consumption be x kg. Therefore, initial expenditure = 100 * x.

After the price changes, the consumption should be y kg to keep the expenditure the same. Therefore, expenditure = 120 * y.

To find the percentage change in consumption, we can set up the equation:
100 * x = 120 * y
x = 1.2y

So, the consumption needs to be increased by 20% to keep the expenditure the same.

Therefore, the correct answer is option A - 16.67%.
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Community Answer
The price of rice decreased by 20% and then increased by 50%. By what...
Let the price be 100Rs.
First decreased (100-20 = 80) then increased (80+80×50%)by then the value will be 120Rs.
Percentage to be decreased will be 120-100 / 120 = 16.667
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The price of rice decreased by 20% and then increased by 50%. By what percent the consumption need to be increased/decreased so that the expenditure on rice remains same?a)16.67b)20.24c)15.55d)60.12e)54.52Correct answer is option 'A'. Can you explain this answer?
Question Description
The price of rice decreased by 20% and then increased by 50%. By what percent the consumption need to be increased/decreased so that the expenditure on rice remains same?a)16.67b)20.24c)15.55d)60.12e)54.52Correct answer is option 'A'. Can you explain this answer? for Banking Exams 2024 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about The price of rice decreased by 20% and then increased by 50%. By what percent the consumption need to be increased/decreased so that the expenditure on rice remains same?a)16.67b)20.24c)15.55d)60.12e)54.52Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Banking Exams 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The price of rice decreased by 20% and then increased by 50%. By what percent the consumption need to be increased/decreased so that the expenditure on rice remains same?a)16.67b)20.24c)15.55d)60.12e)54.52Correct answer is option 'A'. Can you explain this answer?.
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