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?
Q1. 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?
Answer: 13.04%
Explanation: To maintain the same expenditure after a 15% price rise, consumption must fall by 15/115 × 100 ≈ 13.04%.