Question

Ramesh went to market to buy sugar. Due to 40% hike in price of sugar per kg, he is able to buy 10 kg less for the price of Rs. 1750. What is the increased price of sugar per kg?
1. Rs. 70
2. Rs. 50
3. Rs. 59
4. Rs. 68

Answer 1

Correct Answer - Option 1 : Rs. 70

Given:

Hike in price of sugar per kg = 40%

Price of sugar = Rs. 1750

Concept Used:

When expenditure is same, then 

Price ∝ 1/Consumption

Formula Used:

Expenditure = Price × Consumption

Calculations:

Hike in price of sugar per kg = 40%

Initial price : Increased price = 100 : 140

⇒ Initial price : Increased price = 5 : 7

Now, Expenditure is same

Price ∝ 1/Consumption

⇒ Initial Consumption : Reduced Consumption = 7 : 5

Now, 1 unit = 10/(7 - 5) = 10/2 = 5 kg

⇒ Reduced Consumption = 5 × 5 = 25 kg  

Price of sugar = Rs. 1750

⇒ Increase price of sugar per kg = Rs. 1750/25

⇒ Increase price of sugar per kg = Rs. 70

∴ The increased price of sugar per kg is Rs. 70.