The cost of wheat reduced by 28%. How much percent its consumption increased such that the expenditure increases by 8%.Options36%30.24%20%50%
Question
The cost of wheat reduced by 28%. How much percent its consumption increased such that the expenditure increases by 8%?
Options:
- 36%
- 30%
- 24%
- 20%
- 50%
Solution
Let's solve this step by step:
-
Let's assume the original cost of wheat is 100 units. After a reduction of 28%, the new cost is 72 units.
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The expenditure increases by 8%, so the new expenditure is 108 units.
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The consumption is the expenditure divided by the cost. So, the original consumption is 100/100 = 1 unit, and the new consumption is 108/72 = 1.5 units.
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The increase in consumption is 1.5 - 1 = 0.5 units.
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To find the percentage increase, we divide the increase by the original amount and multiply by 100. So, the percentage increase in consumption is (0.5/1)*100 = 50%.
So, the consumption of wheat increased by 50%.
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