SOLUTION: The price of an item (presumably cooking oil) went up by 15%. The percentage of reduction that a family should effect in the use of cooking oil so as not to increase the expenditur

Question 1104784: The price of an item (presumably cooking oil) went up by 15%. The percentage of reduction that a family should effect in the use of cooking oil so as not to increase the expenditure on this account is?
Answer by Theo(13342) (Show Source): You can put this solution on YOUR website!
the price for cooking oil went up 15%.

if the price was x, then the new price is 1.15 * x.

to get back to x, you have to divide 1.15 * x by 1.15.

therefore, they would have to divide their current usage by 1.15 so that their total cost would be the same as it was before.

for example, let's say the price of cooking oil was 60 cents a quart.

the family uses 10 quarts a week.

their current cost for cooking oil is 10 * .60 = $6.00 a week.

the price goes up 15%, so instead of being 60 cents, it is now 1.15 * 60 = 69 cents.

if their kept their usage the same, their cost would now be 10 * .69 = $6.90 a week.

in order to keep their total cost the same as it was before, they would have to divide their current usage of cooking oil by 1.15.

10 quarts / 1.15 = 8.695652174.

they could only use 8.695652174 quarts of cooking oil a week when they were previously using 10 quarts of cooking oil a week.

8.695652174 * .69 = $6.00.

this is the same cost that they were using before the price went up.

RELATED QUESTIONS
The price of an item went up by 15%. The percentage of reduction that a family should... (answered by t0hierry)

The price of cooking oil went up by 15%. The percentage of reduction that a family should (answered by josgarithmetic)

An item costs 423.00 at a 10% reduction. What is the original price of the... (answered by vianix15)

Dear sir/madam Please help me with the following question: The price of oil is... (answered by richwmiller)

A shopkeeper has 4 types of cooking oil which are Rs.70,Rs.90, Rs100 and 150 per each... (answered by palanisamy)

Find the original price of an item bought for $150 at 20% discount... (answered by Edwin McCravy)

Suppose you are working as an economic consultant and you are supposed to explain the... (answered by ikleyn)

After the price of petroleum oil went up by 10%, a consumer reduced his oil consumption... (answered by Juhi)

A clothing store reduce the price of an item by 20% if it is unsold after 3 weeks it... (answered by josmiceli)