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Select the correct answerThe cost of wheat reduced by 28%. How much percent its consumption increased such that the expenditure increases by 8%.Options36%20%50%30.24%

Question

Select the correct answerThe cost of wheat reduced by 28%. How much percent its consumption increased such that the expenditure increases by 8%.Options36%20%50%30.24%

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Solution

Let's solve this step by step:

  1. Let's assume the original cost of wheat is 100 units. After a reduction of 28%, the new cost becomes 72 units.

  2. Let's also assume the original consumption is 100 units. If the expenditure increases by 8%, the new expenditure becomes 108 units.

  3. The expenditure is the product of the cost and the consumption. So, 72 units (new cost) * X units (new consumption) = 108 units (new expenditure).

  4. Solving for X, we get X = 108 / 72 = 1.5. This means the new consumption is 150 units.

  5. The increase in consumption is therefore 150 units - 100 units = 50 units.

  6. To find the percentage increase, we divide the increase by the original amount and multiply by 100. So, (50 / 100) * 100 = 50%.

So, the correct answer is 50%.

This problem has been solved

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