Analysis of the Situation:
Mr. Ram is facing a situation where the price of petrol has increased by 50%. This means that he needs to either reduce his consumption of petrol or find a way to increase his income to balance his monthly budget.

Determination of Required Reduction:
To determine the percent by which Mr. Ram needs to reduce his petrol consumption in order to balance his budget, we can use the concept of proportionality. Since the price of petrol has increased by 50%, Mr. Ram would need to reduce his petrol consumption by a certain percentage to offset this increase.

Calculation:
Let's assume that Mr. Ram's monthly expenditure on petrol is X. After the 50% increase in petrol prices, his new expenditure on petrol would be 1.5X. In order to balance his budget, Mr. Ram would need to reduce his petrol consumption such that his new expenditure on petrol is equal to X.
The reduction in petrol consumption can be calculated as follows:
1.5X - X = 0.5X
This means that Mr. Ram needs to reduce his petrol consumption by 0.5X in order to balance his budget.
Now, to calculate the percentage reduction required, we can use the following formula:
Percentage reduction = (Amount of reduction / Original consumption) * 100

Application of Formula:
Using the formula above:
Percentage reduction = (0.5X / X) * 100
Percentage reduction = 50%
Therefore, Mr. Ram would need to reduce his petrol consumption by 50% in order to balance his budget after the 50% increase in petrol prices.

Conclusion:
In conclusion, in order for Mr. Ram to balance his monthly budget after the increase in petrol prices, he would need to reduce his petrol consumption by 50%. This reduction would help offset the increase in petrol prices and ensure that his budget remains balanced.