Question : If the price of petrol is increased by 81%, by what percentage should the consumption of petrol be decreased by the consumer if the expenditure on petrol remains unchanged? (Correct to two decimal places).
Option 1: 40.45%
Option 2: 41.25%
Option 3: 43.12%
Option 4: 44.76%
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Correct Answer: 44.76%
Solution :
Given: The price of petrol has increased by 81%.
Let the initial price of petrol be Rs.100/litre and the petrol consumption be 100 litres.
Now, increased price of petrol = 181% of 100 = Rs.181/litre
New consumption of petrol = $\frac{100×100}{181}$ = 55.24 litres
Percentage decrease in consumption = $\frac{(100–55.24)}{100}×100$ = 44.76%
Hence, the correct answer is 44.76%.
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