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The price of a certain item is increased by 15 %. If a consumer wants to keep his expenditure on the item same as before how much percent must he reduce his consumption of that item?

Correct answer: B. 13 1/23 %

  • A. 10 20/23 %
  • B. 13 1/23 %
  • C. 16 2/3 %
  • D. 15 %

Explanation

Let the original price and consumption be P and Q. With a 15% increase, the new price is 1.15P, so unchanged expenditure requires consumption Q ÷ 1.15 = 20Q/23; the reduction is 3Q/23, or 3/23 × 100 = 13 1/23%. A student may choose 15% by assuming consumption must fall by exactly the same percentage as the price rises.

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