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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