Question : Rice is now being sold at INR 29 per kg. During the last month, its cost was INR 25 per kg. By how much percentage should a family reduce its consumption, to keep the expenditure the same as before?
(correct to the nearest integer)
Option 1: 14%
Option 2: 13%
Option 3: 15%
Option 4: 12%
Correct Answer: 14%
Solution :
New selling price = INR 29 per kg
Old selling price = INR 25 per kg
Let the expenditure be 100 kg.
So, last months expenditure = 25 × 100
This months expenditure $=\frac{25 × 100}{29}=86.21$ kg
So, the Reduction percentage $=\frac{100-86.21}{100}×100=13.79 \approx14$%
Hence, the correct answer is 14%.
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