The price of almonds is increased by 10%. By what percentage should the consumption be decreased so that the expenditure remains the same?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 9%
Given that
The price of almonds is increased by 10%
Formula used.
Expenditure = Price × Consumption
Calculation
The expenditure remains the same,
so, consumption is inversely proportional to the price of almonds
The consumption should be decreased = 100/11 = 9%