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If the price of petrol is increased by 20% by what percentage should the consumption be decreased by the consumer, if the expenditure on petrol remain unchanged ?
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- 162/3%
- 62/3%
- 8%
- 15%
- None of the above
Correct Option: A
Here, a = 20%
Required percentage loss = [a / (100 + a)] x 100%
= [20/(100 + 20)] x 100%
= (20/120) x 100%
= 162/3%
