Question

the price of flour having risenn by 50% by what fraction must householder reduced his consumption of flour so as not to increase his expenditure


(i) 2/3
(ii) 1/2
(iii) 1/4
(iv)1/3​

Answer 1

Answer:

answer is 1/3

Step-by-step explanation:

Let the initial price of the commodity be 100.

After 50% increase in price, It will become,

100 ------50% increase----> 150.

Now, we have to reduce the consumption to keep expenditure 100.

Increase in price= 150 - 100 = 50

We have to reduce the consumption,

=50150×100=13 or 33.33%=50150×100=13 or 33.33%

Other Method:

Here, we use, Final product constant graphic.

100 ==50% up== 150===33.33% down===>100

Consumption Reduce = 33.33% = 

13