Question

b) If the price of tea decreased by 20%, by what percentage should the consumption of tea by a family increase that the total expenditure increases by 10%?​

Answer 1

Answer:

To a housewife needs to reduce the consumption to tea so as not to increase the expenditure on tea. So, there is formula for this: Here, R denotes the rate of change i.e. 20%. Hence, a housewife should reduce the consumption by 16.67%.