If 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?
This questions was previously asked in
ssc cgl 2023 pre
5 11/107%
Incorrect Answer3 49/107%
Incorrect Answer4 99/107%
Incorrect AnswerExplanation:
- Scenario: Petrol price increases by 7%. You want to keep your spending unchanged.
- Problem: How much to reduce consumption in percentage terms?
Solution:
- Price Increase: 7% more expensive means you can afford 7% less quantity with the same budget.
- Math Approach: Let \( x \) be the consumption reduction percentage.
- Use \( \frac{100}{107} \approx 0.934579 \).
- This means about 93.4579% of original consumption to keep cost unchanged.
- Reduction: \( 100 - 93.4579 \% = 6.5421\% \).
Options Evaluation:
- Option 1: 6 58/107% ˜ 6.5421%
- Option 2: 5 11/107%
- Option 3: 3 49/107%
- Option 4: 4 99/107%
Correct Answer: Option 1: 6 58/107%
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By: Parvesh Mehta