The price of sugar is increased by 20%. By what percentage must one cut down on the consumption of sugar, so that no extra amount has to be incurred on sugar?
Answer & explanation
Correct answer: option 1
20% = \(\frac{1}{5}\)
Ratio of , Initial : Final
Price 5 : 6
Consumption 6 : 5
{ Price ∝ \(\frac{1}{Consumption}\) }
Required Percentage = \(\frac{6-5}{6}\) × 100
= \(\frac{1}{6}\) × 100 = 16\(\frac{2}{3}\) %