Question : The price of rice increased by 10%. By how much should we reduce the consumption, so that the expenditure does not increase on rice?
Option 1: $\frac{100}{11}$%
Option 2: $\frac{300}{7}$%
Option 3: $\frac{50}{3}$%
Option 4: $\frac{51}{7}$%
Correct Answer: $\frac{100}{11}$%
Solution :
Given: The price of rice increased by 10%.
Let the original price of the rice be 100.
After the increase, the new price = (100 + 10) = 110
To not increase the expenditure, the consumption needs to be decreased.
So, the decrease percentage = $\frac{110-100}{110}×100$
= $\frac{10}{110}×100$
= $\frac{100}{11}$%
Hence, the correct answer is $\frac{100}{11}$%.
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