Question : 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?
Option 1: $6 \frac{58}{107} \%$
Option 2: $5 \frac{11}{107} \%$
Option 3: $3 \frac{49}{107} \%$
Option 4: $4 \frac{99}{107} \%$
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Correct Answer: $6 \frac{58}{107} \%$
Solution :
Let the price of petrol be Rs. 100.
The price of petrol increases by 7%, the new price = 100 + 7% of 100 = 107
The price of petrol increases by 7%, the new price = Rs. 107
The consumption be decreased by the consumer if the expenditure on petrol remains unchanged.
Required percentage = $\frac{107-100}{107}$ × 100 = $\frac{700}{107}\%$ = $6 \frac{58}{107} \%$
Hence, the correct answer is $6 \frac{58}{107} \%$.
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