Latest Elitmus Aptitude Question SOLUTION: A restaurant has priced pork at 95 rs. Now it reduces its price by 20% so that it earns 60% more. Now what is the percentage increase in the consumption of pork. Question was exact

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(#M40030046) ELITMUS Logical Reasoning question elitmus 10/11/2013 Keep an EYE

A restaurant has priced pork at 95 rs. Now it reduces its price by 20% so that it earns 60% more. Now what is the percentage increase in the consumption of pork. Question was exactly like this.

option)100% b)10%

Asked In Elitmus Amardip Gautam (11 years ago)

Unsolved Read Solution (13)

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Mahesh  (11 years ago)

Let the initial price and consumption be 100 and 100.
The total revenue is 10000
The final price is 80 and final revenue is 16000
So, final consumption is 16000/80 = 200
Percentage increase = 100, choice (1)

Is this solution Helpfull? Yes (37) | No (1)  

Mahesh  (11 years ago)

In this problem, the percentage changes are more important compared to the actual values. For, that reason, we can ignore the actual values.
For that reason,for the simplicity in the calculations, lets assume the price of pork to be 100 and the amount of sales to be 100.

So, teh total revenue is 100 * 100 = 10000

Now, as the revenue has gone up by 60%, so the new revenue is 16000.
As the cost of the pork is decreased by 20%, the new price of the pork is 80

So, the new total sales = 16000/80 = 200
We can observe the value of sales has increased from 100 in the previous case to the new value 200.
It increased by a value of 100 , which is equal to 100, which in turn is equal to 100%
100% is the answer

Alternatively,

Even if we take the cost as 95, the new price is 20% less than 95, so the new price is 76.
Let the initial sales be 100, so total revenue is 9500
The revenue has gone up 60%, so new total revenue 9500 * 1.6

The new sales = revenue/ new price = 9500 * 1.6 / 76 = 200
The increase in the sales = 100
Percentage increase = 100%

Is this solution Helpfull? Yes (19) | No   

Sanchit  (11 years ago)

20 % of 95 = 19 ;
new price after reduction = 95-19 = 76 ;
in order to earn 60& more: 76 x 100 / 160 = 95/2;
increase in consumption : two times the previous price
=> 100%

Is this solution Helpfull? Yes (9) | No (2)  

Deepak  (10 years ago)

100 pork consumption at 95
then revenue = 95 * 100 =>9500

Now reduce price of pork is 76
so to earn more 60 % profit

x is the increase in consumption.

original + increase = reduce price with increase consumption.
9500 + 60*9500/100 = 76 * (100 + x)
solve get x = 100
so % increase in consumption is 100%

Is this solution Helpfull? Yes (5) | No   

siddharth prakash singh  (9 years ago)

ans is 100%
solution:- let no of porks sold initially=x
so total earning initially=95x
As now price is reduced by 20%, so new price = 95*80/100 =76
since earning has been increased by 60%, so now his earning will be 95x*160/100 =152x
therefore no of porks sold=152x/76 =2x
so increase in selling=2x-x =x.
hence %age increase=100%

Is this solution Helpfull? Yes (3) | No   

ANJALI TRIPATHI  (11 years ago)

Mahesh please explain your solution

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udit ujjwal  (11 years ago)

100-80-160 so increase in 100%.

Is this solution Helpfull? Yes | No (2)  

Shradha Agarwal  (10 years ago)

when the price is reduced by 20%,
increase in consumption=r% * 100/(100-r)%
=20 * 100/80=25%

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ankit shw  (10 years ago)

100%
as decreased price is 76rs
let it sell 100 at rs95
to earn 60% more 9500*160/100
so at 76 rs he has to sell
9500*160/(100*76)=200
hence % increase=100%

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suraj Khanduri  (10 years ago)

@95 earning=95x, now by reducing price 20% it earn 60% =95x.60%= 152x
after reducing price by 20% per pork =76.let total conumption y.
total earning = 76y=152x
y:x=2:1
in percent 100% consumption increased.

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Lathasree  (10 years ago)

guys, can anybody pls explain correctly hw to get 100%.

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Chandrashekhar Ch  (10 years ago)

answer is 100%

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Abhishek Mohanty  (9 years ago)

Let price =P, consumption=C, Earning=E.
so P * C = E------------(a).
new price=P1, consumtion=E1, Earning=E1.
so P1 * C1 = E1.----------(b).

now (a)/(b)= (P/P1) * (C/C1) = (E/E1)-------(c).

P1=P +20%P =>P/P1=100/80.

similarly E/E1=100/160.

putting these values in (c).

C/C1=1/2.

=> C1/C=2

=>(C1/C)-1=2-1.

=>(C1-C/C)=1.

=>(C1-C/C)*100 = 100%. (ans)

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