Question

the price of a commodity has increased by 60% by what percent must the consumer reduce the consumption of the comedy so as not to increase the expenditure​

Tell me only if you know the answer

Answer 1

Answer:

37.5%

Step-by-step explanation:

Let the price of the commodity be Rs. x and its consumption be y.

Then Expenditure = Rs. xy

Increased price = Rs. (160/100)x = Rs. 1.6x

Expenditure remaining the same = Rs. xy

∴ Reduced consumption = xy/1.6x

=> 10y/16

=> 5/8y

% reduction in consumption

= (y−5/8y)/y × 100

=>3/8 × 100%

=37.5%