The price of cooking oil has increased by 25%. By what percent should a family reduce the consumption of cooking oil so as not to increase the expenditure in this account?
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18 20 25 30 |
20 |
Let, Initial -------Price = 100 Quantity = 10 Expenditure (P x Q) = 1000 After --------Price = 125 Quantity = x [8] Expenditure (P x Q) = 1000 So, Quantity = \(\frac{ 1000}{125 }\) = 8 Initial qty = 10, New qty = 8 Reduction = \(\frac{2 }{10 }\) x 100 = 20% |