Multiple Choice Questions on If the price of a commodity is increased by 30 by how much a consumer must reduce his consumption so........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

If the price of a commodity is increased by 30 by how much a consumer must reduce his consumption so...........

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    If the price of a commodity is increased by 30%, by how much % a consumer must reduce his consumption so to keep the expenditure same ?

    100/13

    Incorrect Answer

    200/13

    Incorrect Answer

    300/13

    Correct Answer

    400/13

    Incorrect Answer
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    Explanation:

    If commodity price is increased then reduction in consumption will be
    [(increase in price)/100 + increase in price]*100.
    (30/130)*100 = 300/13%

    By: Amit Kumar
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