If the price of a commodity increases by 150%, by what percentage should the consumption decrease so that overall expenditure is same as earlier?
If the price of a commodity increases by 150%, by what percentage should the consumption decrease so that overall expenditure is same as earlier?
Option 1 -
75%
Option 2 -
40%
Option 3 -
60%
Option 4 -
50%
Asked by Shiksha User
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1 Answer
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Correct Option - 3
Detailed Solution:Let x be the required percent.
Using the successive percentage change rule, we have
150 + x + = 0
= – 150
x = – 60%
so 60%
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