The price of cooking oil increased by 25%. Find by how much percentage a family must reduce its consumption in order to maintain the same budget?
Answer & explanation
Correct answer: option 4
25% = \(\frac{1 }{4}\)
Ratio Initial : Final
Price 4 : 5
Consumption 5 : 4
{ Price ∝ \(\frac{1}{Consumption}\) }
Required Percentage = \(\frac{5 - 4 }{5}\) × 100 = 20%