Please enter the following details
Free Daily Targets & Mocks
Study Material & Formulas PDFs
1 on 1 Mentorship
Question 7
Wheat is now being sold at Rs. 27 per kg. During last month its cost was Rs. 24 per kg. Find by how much per cent a family reduces its consumption so as to keep the expenditure fixed.
Solution
Old price of rice = Rs.24/k
New price of rice = Rs.27 per/kg
Therefore, Increase in price of rice = New price - Old price = 27 - 24 = Rs.3/kg
Therefore, Increased percentage in price
= 3/24×100=12.5 %
Now, reduction in consumption, so as to keep the expenditure fixed.
According to the formula,
$$\frac{a}{100+a}\times\ 100$$
= $$\frac{12.5}{100+12.5}\times\ 100$$
=11.1 %
Create a FREE account and get:
- All Quant Formulas and shortcuts PDF
- 170+ previous papers with solutions PDF
- Top 5000+ MBA exam Solved Questions for Free
SNAP Quant Questions | SNAP Quantitative Ability
SNAP Averages, Ratio and Proportion QuestionsSNAP Data Sufficiency QuestionsSNAP Venn Diagrams QuestionsSNAP Time, Distance and Work QuestionsSNAP Inequalities Questions
