The table provided displays the estimated cost (in ₹ lakh) for the construction of a canal between two points.
Based on the information in the table, answer the questions that follow.
To ensure that the total expenditure remains within ₹1,050 lakh, an equal reduction in management expenditure is proposed for all years. What will be the percentage reduction for the year 2021?
Solution
First, let us note down the table and find out the sum of the costs across the rows and columns:
For the budget to be below 1050 lakhs, we must reduce the management budget by 1088.5 - 1050 = 38.5 => 9.625 per year.
In the year 2021, the % decrease = 9.625/22.5 * 100 = 42.777% = 42.78% [Option-A]
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