Mathtips

black_arabian_stallion_by_vikarus-d33e5pn

Solution for yesterday’s problem

Let the cost price be $100

at 19% loss the selling price is $81

at 17% gain the selling price must be $117

the difference is 117-81 = $36

If $36 is the difference then the cost price is $100

If $162 is the difference then the cost price must be (162/36)*100 = $450

Fastrac method

162/(19+17)*100 = 450

Today’s problem

A family wanted to reduce the expenditure on milk by 19%. But the price of milk increased by 8%. In order to achieve the desired result, by what percentage the family would reduce the consumption?

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