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The price of sugar is increased by 17%. A person wants to increase his expenditure by 5% only. By approximately what percent should be decrease his consumption? (SSC CGL-2018)
- a)10.3
- b)10.7
- c)10.9
- d)9.9
Correct answer is option 'A'. Can you explain this answer?
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Most Upvoted Answer
The price of sugar is increased by 17%. A person wants to increase his...
Solution:
Let the initial consumption of sugar = 100 units and initial price = Rs. x per unit.
After the price increase of 17%, the new price of sugar = Rs. (1.17x) per unit.
Now, the person wants to increase his expenditure by 5% only.
Let the initial expenditure be Rs. 100.
After the price increase, the expenditure will be = (100/ x) units × Rs. (1.17x) per unit = Rs. 117.
To increase this expenditure by 5%, the new expenditure will be = Rs. (117 × 1.05) = Rs. 122.85.
The person needs to decrease his consumption in such a way that he spends only Rs. 122.85 on sugar.
Let the new consumption be y units.
Then, (y/ x) units × Rs. (1.17x) per unit = Rs. 122.85
y = 100 units × (122.85/ 117) = 104.5 units
Therefore, the person needs to decrease his consumption by (100 - 104.5)/ 100 × 100% ≈ 10.3%.
Hence, the answer is option (a) 10.3.
Let the initial consumption of sugar = 100 units and initial price = Rs. x per unit.
After the price increase of 17%, the new price of sugar = Rs. (1.17x) per unit.
Now, the person wants to increase his expenditure by 5% only.
Let the initial expenditure be Rs. 100.
After the price increase, the expenditure will be = (100/ x) units × Rs. (1.17x) per unit = Rs. 117.
To increase this expenditure by 5%, the new expenditure will be = Rs. (117 × 1.05) = Rs. 122.85.
The person needs to decrease his consumption in such a way that he spends only Rs. 122.85 on sugar.
Let the new consumption be y units.
Then, (y/ x) units × Rs. (1.17x) per unit = Rs. 122.85
y = 100 units × (122.85/ 117) = 104.5 units
Therefore, the person needs to decrease his consumption by (100 - 104.5)/ 100 × 100% ≈ 10.3%.
Hence, the answer is option (a) 10.3.
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Community Answer
The price of sugar is increased by 17%. A person wants to increase his...
Let initial price of sugar was ₹ 100/kg
After increase price for 1kg sugar = ₹ 117
Increased Expenditure = ₹ 105
consumption
∴ Decrease in consumption
After increase price for 1kg sugar = ₹ 117
Increased Expenditure = ₹ 105
consumption
∴ Decrease in consumption
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