Question
Download Solution PDFThe price (per litre) of petrol increases by 50%. By what percent should its consumption be reduced such that the expenditure on it increases by 14% only?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFFormula used:
Percentage Reduction in Consumption =
Calculation:
Let the initial price of petrol be ₹100 and consumption be 100 litres.
Initial expenditure = Price × Consumption
Let the reduced consumption be x litres.
New expenditure = New Price × Reduced Consumption
New expenditure = 114% of Initial expenditure
Initial expenditure = 100 × 100 = ₹10,000
New price = 100 + 50 = ₹150 per litre
New expenditure = ₹10,000 ×
New expenditure = New Price × Reduced Consumption
⇒ ₹11,400 = ₹150 × x
⇒ x =
Percentage reduction in consumption:
⇒
⇒
⇒ 24%
∴ The correct answer is option (2).
Last updated on Jul 8, 2025
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