Question

the price of rice falls by 15% by what persentage a person can increase the consumption of rice so that his overall budget does not change​

Answer 1

Answer:

Increase consumption=[

100−R

R

×100]%

⇒

100−16

16

×100

⇒

84

16

×100

⇒

21

400

%

⇒19.04=19%

Answer 2

Answer:

17.7% is the Correct Answer

Explanation:

As per the law of demand, This States that When Prices Rises The Quantity demanded will decrease and when Price Falls, The Quantity demanded will increase. So this Question Fulfills law of demand. So the follow for budget is:-

[R/100-R *100] %

Increase in Consumption= [15/100-15*100]%
---> [15/85 *100] %
---> [3/17 *100] %
--->  17.7%

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