Question
Download Solution PDFIf the price of a commodity is increased by 36%, by what percentage (rounded off to 1 decimal place) should its consumption be decreased so that the expenditure of the commodity stays the same?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
The price of a commodity is increased by 36%.
Formula used:
New Price × New Consumption = Old Price × Old Consumption
Calculation:
Let the original price be P and the original consumption be C.
New Price = 1.36P
Let the new consumption be C'.
Since the expenditure remains the same:
⇒ 1.36P × C' = P × C
⇒ C' = (P × C) / (1.36P)
⇒ C' = C / 1.36
Percentage decrease in consumption = ((C - C') / C) × 100
⇒ Percentage decrease in consumption = (1 - 1 / 1.36) × 100
⇒ Percentage decrease in consumption = (1 - 0.7353) × 100
⇒ Percentage decrease in consumption ≈ 26.5%
∴ The correct answer is option (3).
Last updated on May 28, 2025
-> The SSC has released the SSC CHSL exam calendar for various exams including CHSL 2025 Recruitment. As per the calendar, SSC CHSL Application process will be active from 23rd June 2025 to 18th July 2025.
-> The Exam Date for the SSC CHSL 2025 will be from 8th September 2025 to 18th September, 2025.
-> The SSC CHSL is conducted to recruit candidates for various posts such as Postal Assistant, Lower Divisional Clerks, Court Clerk, Sorting Assistants, Data Entry Operators, etc. under the Central Government.
-> The SSC CHSL Selection Process consists of a Computer Based Exam (Tier I & Tier II).
-> To enhance your preparation for the exam, practice important questions from SSC CHSL Previous Year Papers. Also, attempt SSC CHSL Mock Test.