Question 57

The price of sugar is increased by 17%. A person wants to increase his expenditure by 7% only. By what percentage, correct to one decimal place, should he reduce his consumption?

Solution

Let the initial price of 1kg sugar was =100 Rs.

And initial consumption of the person was =100 Rs.

Price of the sugar was increased by 17%,

Hence, new price of the sugar $$=117$$Rs.

Expenditure of the person was increased by 7%,

Hence new expenditure amount of the person $$=107$$Rs.

Hence, the required percentage $$=\dfrac{(117-107)\times 100}{117}=8.5\%$$

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