if the price of sugarcane increase by 22%.what should be the approximate percentage decrease by the consumption of sugarcane so as to keep the expenditure constant?
Answers
18.1%
Explanation:
Expenditure = Price × Consumption
Before increase in 22%:
Let the price of sugarcane be 100 rupees
Let the consumption = 1kg
Expenditure = 100 × 1 = 100
Before increase and after increase the expenditure is going to be constant.
After increase in 22%:
Price of sugarcane = 100 + 22/100(100)
= 100 + 22
= 122
Let the consumption = x
Expenditure = 122 × x
100 = 122 × x
x = 100 / 122
x = 0.819
Percentage decrease in consumption:
= (1-0.819)/100
= 0.181 / 100
Percentage decrease in consumption: 18.1%
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Concept :
Sugarcane is harvested in India between 10 and 18 months after planting, depending on the planting time and crop maturity.
Autumn crops are harvested at 15 months in subtropics, while spring and summer crops (late-planted) are harvested at 10-12 months.
Explanation :
Let the price of sugarcane be 100 rupees
Let the consumption = 1kg
Expenditure = 100 × 1 = 100
Before increase and after increase the expenditure is going to be constant.
After increase in 22%:
Price of sugarcane = 100 + 22/100(100)
= 100 + 22
= 122
Let the consumption = x
Expenditure = 122 × x
100 = 122 × x
x = 100 / 122
x = 0.819
Percentage decrease in consumption:
= (1-0.819)/100
= 0.181 / 100
Hence the Percentage decrease in consumption: 18.1%
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