If the price of petrol is increased by 40%, by what percentage (rounded off to 1 decimal place) should its consumption be decreased so that the expenditure on petrol remains the same?
Show answer & explanation
Correct answer: D
Explanation
The correct answer is option 4 i.e. 28.6%.
Let the initial price of the petrol be Rs. 100
Increment in price = 40%
The new price of the petrol = Rs. 140
Required percentage = (140 - 100)/140 × 100 = 28.57% or 28.6%