Question

the price of onions has been increased by 50% .in order to keep the expenditure on onions the same the percentage of reduction in consumption?
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Answer 1

Answer:

33 1/3

Step-by-step explanation:

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Answer 2

Concept: Price of the good is inversely related to the quantity of the goods purchased by consumers. If price increases the quantity of the good is decreases and vice-versa.

Given: Increased price of the onion by 50%

Find: Calculate the percentage of reduction in Onion consumption.

Solution: Percentage of reduction= [R/(100+R) ×100]%

                                                        = [50/(100+50) ×100]%

                                                        = [50/150 ×100]%

                                                         = [100/3]%

                                                        = 33.33%

Final answer: Percentage of reduction is 33.33%.

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