The price of petrol increased by 25% and so a person reduced his consumption by 25%. What percentage is the rise or fall in the expenditure incurred by him on petrol?
Answer
Basis: 100 litres of petrol at Rs P per litre.
Initial expenditure = 100P
reduction in consumption: (1-.25) x 100 = 75 litres
current price of 75 litres = 75 x 1.25 x P = 93.75 P
Reduction in expenditure = 100P - 93.75P = 6.25P.
% reduction in expenditure= (6.25P/ 100P) x 100 = 6.25%
Answer
Basis: 100 litres of petrol at Rs P per litre.
Initial expenditure = 100P
reduction in consumption: (1-.25) x 100 = 75 litres
current price of 75 litres = 75 x 1.25 x P = 93.75 P
Reduction in expenditure = 100P - 93.75P = 6.25P.
% reduction in expenditure= (6.25P/ 100P) x 100 = 6.25%
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