Price of paper has increased by 20%. Approximately, what percent of the paper usage must be curtailed so that the expenditure for paper remains the same?
Price of paper has increased by 20%. Approximately, what percent of the paper usage must be curtailed so that the expenditure for paper remains the same? Correct Answer 16.66%
Let the original price of paper be Tk.100. The price of paper is increased by 20%. Increased price of paper = 100 + (20% of 100) = 100 + 20 = Tk. 120. Increase in price = 120 - 100 = Tk.20 Tea of cost Tk.20 is to decreased out of the increased cost of Tk.120. Percentage decrease = (20/120) x 100 = 100/6 = 16 2/3 %. = 16.66 %