he price of a certain food items was raised by 12% in market. The consumption of the same food items was decreased from 250 kgs to 200 kgs. By how much percent will expenditure on food item fall in the market?
Question
he price of a certain food items was raised by 12% in market. The consumption of the same food items was decreased from 250 kgs to 200 kgs. By how much percent will expenditure on food item fall in the market?
Solution
Sure, let's solve this step by step:
Step 1: Calculate the new price after the increase The price was increased by 12%, so the new price is 112% of the original price.
Step 2: Calculate the original and new expenditure The original expenditure is the original price times the original quantity (250 kgs). The new expenditure is the new price times the new quantity (200 kgs).
Step 3: Calculate the percentage decrease in expenditure The percentage decrease in expenditure is the difference between the original and new expenditure, divided by the original expenditure, times 100%.
However, without the original price of the food item, we cannot calculate the exact percentage decrease in expenditure. We can only say that the expenditure will decrease if the 12% increase in price does not offset the 20% decrease in quantity.
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