Correct option is B
Given:
Petrol price per litre increases by 70%
Desired increase in expenditure is only 19%
Formula Used:
Expenditure is the product of price and consumption:
Expenditure = Price × Consumption
Solution:
Let:
Original price = 100
Original consumption = 100
=>Original expenditure = 100 × 100 = 10,000
New price = 100 + 70 = 170
New expenditure = 10,000 × 1.19 = 11,900
New consumption = = 70
Reduction = 100 - 70 = 30
Required reduction % =
Alternate Solution:
Required reduction% =
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