The price of wheat is decreased by 13\(\frac{1}{3}\)%. Find by how much percent a man should increases his consumption so that the expenditure remains same?
Answer & explanation
Correct answer: option 3
Price × Consumption = Expenditure
*(If expenditure remains same the price is inversely proportional to consumption)
Therefore,
13\(\frac{1}{3}\)% = \(\frac{2}{15}\)
Price ratio: 15 : 13
Consumption: 13 : 15 ⇒ 2 (increased by)
Hence,
Increased percentage = \(\frac{2}{13}\) × 100% = 15\(\frac{5}{13}\)%