Interview Preparation Exam  >  Interview Preparation Questions  >  If the price of an article is increased by 15... Start Learning for Free
If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.
  • a)
    11(1/23)%
  • b)
    11(2/23)%
  • c)
    13(1/23) %
  • d)
    13(2/23)%
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
If the price of an article is increased by 15%, then by how much the h...
By Analyzing the given information
Decrease in expenditure = (15/115)*100 = 13(1/23) %
View all questions of this test
Most Upvoted Answer
If the price of an article is increased by 15%, then by how much the h...
Explanation:
To calculate the decrease in consumption needed to keep the expenditure the same after a 15% price increase, we can use the following formula:
Let x be the original price of the article and y be the original quantity consumed.
Expenditure = Price * Quantity
After a 15% increase in price, the new price will be 1.15x. Let z be the new quantity to be consumed to keep the expenditure the same.
Therefore,
Expenditure = 1.15x * z
To keep the expenditure the same:
x * y = 1.15x * z
Solving for z:
z = (x * y) / (1.15x)
z = y / 1.15
z = 13.043y

Calculation:
The decrease in consumption needed to keep the expenditure the same is:
Decrease = y - z
Decrease = y - 13.043y
Decrease = -0.043y
To calculate the percentage decrease:
Percentage Decrease = (0.043y / y) * 100%
Percentage Decrease = 4.3%
Therefore, the household should decrease their consumption by 13(1/23)% to keep their expenditure the same after a 15% price increase.
So, the correct answer is option C. 13(1/23)%.
Explore Courses for Interview Preparation exam

Top Courses for Interview Preparation

Question Description
If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer? for Interview Preparation 2025 is part of Interview Preparation preparation. The Question and answers have been prepared according to the Interview Preparation exam syllabus. Information about If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for Interview Preparation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer?.
Solutions for If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for Interview Preparation. Download more important topics, notes, lectures and mock test series for Interview Preparation Exam by signing up for free.
Here you can find the meaning of If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer?, a detailed solution for If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice If the price of an article is increased by 15%, then by how much the household should decrease their consumption so as to keep his expenditure same.a)11(1/23)%b)11(2/23)%c)13(1/23) %d)13(2/23)%Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice Interview Preparation tests.
Explore Courses for Interview Preparation exam

Top Courses for Interview Preparation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev