The price of sugar increases by 15%. By what percentage should the consumption of sugar be decreased so that the expenditure on the purchase of sugar remains the same? [Give your answer correct to 2 decimal places.]
Answer & explanation
Correct answer: option 4
15% = \(\frac{3}{20}\)
Ratio , Initial : Final
Price 20 : 23
Consumption 23 : 20
{ consumption ∝ \(\frac{1}{Price}\) }
Required percentage = \(\frac{23-20}{23}\) × 100 = 13.0434%
= 13.04% (approx)