Question

If the consumption increases by 20%,but the price decreases by 16.67%,what is the change in the expenditure

Answer 1

Answer:

Let the original price of the tea be Rs 100.

The price of the tea is increased by 20%.

Increased price of the tea = 100 + (20% of 100) = 100 + 20 = Rs 120.

Increase in price = 120 - 100 = Rs 20

Tea of cost Rs 20 is to decreased out of the increased cost of Rs 120.

Percentage decrease = (20/120) x 100 = 100/6 = 16 2/3 %.

hence , the consumption of 16 2/3% of tea is to be decreased so that the expenditure on tea remains the same.

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