Question 74
The price of cooking oil increased by 25%. Find by how much percentage a family must reduce its consumption in order to maintain the same budget?
Solution
By the formula,
Decrements in the consumption in order to maintain the same budget = $$\frac{increment in the rate}{100 + increment in the rate} \times 100$$
= $$\frac{25}{100 + 25} \times 100 = \frac{25}{125} \times 100 = 20%
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