The price of milk has risen by 75%. Find by how much percent a house holder must reduce his consumption so as not to increase his expenditure.
Answers
Answered by
1
Answer:
ok
Step-by-step explanation:
Answered by
2
Answer:
16.67%
Step-by-step explanation:
Let the price of milk be rs 100/ltr
and let the consumption of milk be y ltrs
therefore therefore expenditure on milk=Rs 100y
increase in price= 20%
increased price= Rs 120
new expenditure remains the same=100y
Expenditure/New Price = New Consumption
100y/120 = 5/6y
difference in consumption=y-5/6y = 1/6y
therefore % decrease in consumption
=1/6y x 1/y x 100
=100/6
=16.67%
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