If price of papaya is increased by 40 percent, then by what percentage consumption of papaya should be decreased so that the expenditure incurred on papaya gets decreased by 10 percent?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 35.7 percent.
Let the price be Rs. 100
If the price of papaya is increased by 40 percent
New price = 100 + 40 = Rs. 140
⇒ (140 - 90)/140
⇒ 50/140 = 35.7%