The price of sugar is increased by 17%. A person wants to increase his expenditure by 8% only. By what percent should he decrease his consumption, nearest to one decimal place?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e. 7.7%
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Understanding |
Application |
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Let initial price of sugar be 100x Price of sugar after increased = 100x × [117/100] = 117x |
Person wants his expenditure increase by 8% only, so his expenditure should be = 100x × [108/100] = 108x Required percentage = [(117x - 108x)/117x] × 100 = 900/117 = 7.69% ≈ 7.7% |