Question
Download Solution PDFIf the price of petrol increased by 7%, then by what percentage should the consumption be decreased by the consumer, if the expenditure on petrol remains unchanged?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven :
Price of petrol increased by 7%.
Formula Used :
Expenditure = Price × Consumtion
Calculation :
Price of petrol increased by 7%
So,
Percentage decrease in consumption = 7/107 × 100
⇒ \( 6 \frac{58}{107} \% \)
∴ The correct answer is \( 6 \frac{58}{107} \% \).
Last updated on May 26, 2025
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