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The price of Milk has increased by 20%. By what percent should a family reduce the consumption of Milk so as not to increase the expenditure in this a
Question

The price of Milk has increased by 20%. By what percent should a family reduce the consumption of Milk so as not to increase the expenditure in this account?

A.

18%

B.

20%

C.

16.67%

D.

24%

Correct option is C


Given:
· The price of Milk has increased by 20%.
Formula Used:
· Percentage decrease in consumption required to keep the expenditure constant is given by

Solution:
· Increase in price = 20%
· Applying the formula:
Percentage decrease =

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