If the price of petrol is increased by 28%, by what percentage should the consumption be decreased by the consumer, if the expenditure on petrol remains unchanged? (Correct to 2 decimal places)
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. 21.88%
Concept used:
If expenditure remains same, Price and consumption are inversely proportional to each other.
Calculations:
⇒ Ratio of the price of petrol = Old price : new price = 100 : 128
⇒ 25 : 32
Ratio of consumption is inversely proportional = Old consumption : New consumption = 32 : 25
Required percentage = [(32 - 25)/32] × 100 = 21.88%