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?

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SSC GD Constable (2022) Official Paper (Held On : 01 Feb 2023 Shift 3)
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  1. 25.7%
  2. 28.6%
  3. 40.5%
  4. 35.5%

Answer (Detailed Solution Below)

Option 2 : 28.6%
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Detailed Solution

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Given:

Increase in price = 40%

Concept:

If the expenditure is to remain the same, Percentage decrease in consumption = (Increase in price/(100 + Increase in price)) × 100

Calculation:

⇒ Percentage decrease in consumption = (40/(100 + 40)) × 100 = 28.6%

Therefore, consumption should be decreased by 28.6% to keep the expenditure the same.

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