The price of sugar is increased by 24%. A person wants to increase his expenditure by 18% only. By approximately what percent should he decrease his consumption?
This questions was previously asked in
SSC CGL 12 June 2019 Shift-3
Explanation:
- The price of sugar increased by 24%.
- The person wants to increase his overall expenditure by only 18%.
- The formula to calculate the required reduction in consumption is:
\[ \text{Decrease Percentage} = \left( \frac{\text{Price Increase Percentage} - \text{Desired Expenditure Increase Percentage}}{1 + \text{Price Increase Percentage}} \right) \times 100 \]
- Plug in the numbers:
\[ \text{Decrease Percentage} = \left( \frac{24 - 18}{1 + 24} \right) \times 100 \]
\[ \text{Decrease Percentage} \approx 4.8\% \]
- Correct Answer: Option 4: 4.8%
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By: santosh