The price of diesel has increased by 26%. A person wants to increase his expenditure by 15% only. By what percentage, correct to one decimal place, should he decrease his consumption?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is Option 3 i.e 8.7%.
26% = 26/100
| (Initial price)P1 | (After Increasing Price)P2 |
| Rs. 100/lit | Rs.126/lit |
| Initial | After increasing | |
| Price | 100 | 115 |
| Consumption of diesel in a liter | 1 lit | 115/126 lit |
Consumption decrease = 1 - (115/126)
⇒ (126 - 15)/126 = 11/126
Required percentage = 8.7%