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If the price of gold increases by 50%, find by how much the quantity of ornaments must be reduced, so that the expenditure may remain the same as before?

Correct answer: B. 33 1/3 %

  • A. 27 2/23 %
  • B. 33 1/3 %
  • C. 30%
  • D. 19%

Explanation

Let the original price and quantity be P rupees and Q ornaments. After a 50% price increase, the price is 1.5P rupees, so the new quantity must be Q / 1.5 = 2Q/3 to keep expenditure unchanged. The reduction is Q - 2Q/3 = Q/3 = 33 1/3%. The likely mistake is choosing 27 2/23% by calculating the change from the increased price incorrectly.

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