The budget for an event is allocated to venue, food, and decorations in the ratio 4:5:1. During planning, the cost of the venue rose by 10%, the cost of food rose by 20%, and the cost of decorations fell by 30%. What is the percent change in the total event cost?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. 11% increase.
venue : food : decorations
400 : 500 : 100 ⇒ 1000
+10% +20% -30%
440 : 600 : 70 ⇒ 1110
% change = [(1110 - 1000)/1000] × 100 = 11%