The price of rice is decreased by 12%. Find by how much percent a man should increases his consumption so that the expenditure remains same?
Answer & explanation
Correct answer: option 1
Price × Consumption = Expenditure
*(If expenditure remains same the price is inversely proportional to consumption)
Therefore,
12% = \(\frac{3}{25}\)
Price ratio: 25 : 22
Consumption: 22 : 25 ⇒ 3 (increased by)
Hence,
Increased percentage = \(\frac{3}{22}\) × 100% = 13\(\frac{7}{11}\)%