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If the price of sugar increases by 25%, a household must reduce its consumption by what per cent to keep expenditure unchanged?
A20%
B25%
C30%
D15%
Answer & Solution
Correct answer: A. 20%
Price factor 1.25; consumption factor must be 1/1.25 = 0.8, i.e. a fall of 20%. Formula: r/(100+r) × 100 = 25/125 × 100 = 20%.
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