Question 74

The price of a commodity is increased by 36% and the quantity purchased is decreased by 30%. What is the percentage increase/decrease in the amount spent on the commodity?

Solution

Let the price of 100kg commodity is Rs 100

After increased in price

100 kg = Rs 136

Now quantity of commodity decreased = 70 kg

70 kg commodity price = $$\frac{70\times\ 136}{100}=Rs\ 95.20$$

Decreased in amount = 100 - 95.20 = 4.8%.

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