SSC CGL Exam  >  SSC CGL Questions  >  If the price of petrol increases by 80%, then... Start Learning for Free
If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure?
Most Upvoted Answer
If the price of petrol increases by 80%, then by how much percent shou...
To determine how much a person should reduce their petrol consumption in response to an 80% increase in price while keeping their expenditure constant, we can follow a systematic approach.

Understanding the Price Increase
- If the original price of petrol is denoted as \( P \), an 80% increase means the new price becomes:
\[
\text{New Price} = P + 0.8P = 1.8P
\]

Expenditure and Consumption Relationship
- Let’s assume the person originally consumes \( C \) liters of petrol. Therefore, the initial expenditure is:
\[
\text{Expenditure} = P \times C
\]
- To maintain the same expenditure after the price increase, we denote the new consumption as \( C' \). The equation for expenditure becomes:
\[
\text{Expenditure} = 1.8P \times C'
\]

Setting the Expenditures Equal
- To keep the expenditure the same, we equate the two expressions:
\[
P \times C = 1.8P \times C'
\]
- Simplifying this by canceling \( P \) from both sides (assuming \( P \neq 0 \)) gives us:
\[
C = 1.8C'
\]

Calculating New Consumption
- Rearranging the equation to find \( C' \):
\[
C' = \frac{C}{1.8} \approx 0.5556C
\]

Determining the Reduction Percentage
- The reduction in consumption can be calculated as:
\[
\text{Reduction} = C - C' = C - 0.5556C = 0.4444C
\]
- To find the percentage reduction:
\[
\text{Percentage Reduction} = \left( \frac{0.4444C}{C} \right) \times 100 \approx 44.44\%
\]

Conclusion
- Therefore, to maintain the same expenditure after an 80% increase in petrol prices, the person should reduce their consumption by approximately **44.44%**.
Explore Courses for SSC CGL exam

Similar SSC CGL Doubts

Direction: Read the following passage carefully and answer the questions. Your answer to these questions should be based on passage only.The news that the Indian Railways are going to incur a shortfall of Rs 1000 crore in their resources generation - and will, therefore, have to seek budgetary support to that extend - will not surprise many. Thats a scenario that has been played out for years now, and the outcome, too, has been predictable - with railways budget doing is duty by doling out public money. But its time to look at the problem differently, in view of the current concerns of the government in economizing its charity and the feeling that the railways have to stand on their own legs.The Railways have, over the last few months, continued to experience a shortfall of Rs 85 crore per month, a feature that could add to their woes if it continue. Fall in expected goods traffic, in the rate per tonne and also a dip in passenger traffic have contributed to the shortfall. All these may not be new concerns for the Railways; the relevant point, however, is how the system and the government hope to tackle it.Clearly, budgetary support should be considered only in the last instance, after various measures to both reduce expenditure and raise resources have been tried out. Consider subsidies on passenger traffic --- the expenditure which really digs into the governments coffers. In fact, passenger traffic subsidy accounted for nearly 90 per cent of the railways losses in 1992/93, with freight traffic subsidies taking up the rest.Freight traffic subsidy cuts should prove more easy if this years budget exercise is any indication. Till now, sixteen commodities were subsidized. In 1993/94, budget subsidy on four commodities were removed. Prices did not rise, there was little protest and now the Railways ought to be emboldened to do more Reduction in passenger subsidies is more tricky given the dependence of such a large population, mostly poor, on the system and most governments have been reluctant to do much. In fact, passenger rates have been hiked very few times and that, too, only in recent years.One area where the Railways could do a lot more pruning is in shutting uneconomic branch lines. For instance, in 1992/93 it was found that 114 branch lines contributed a loss of Rs 121 crore.To its credit, however, the railways have been looking around for sources of funds other than the budget.Q. According to the author, what should the Railways do as regards freight subsidy?

Top Courses for SSC CGL

If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure?
Question Description
If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure? for SSC CGL 2024 is part of SSC CGL preparation. The Question and answers have been prepared according to the SSC CGL exam syllabus. Information about If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure? covers all topics & solutions for SSC CGL 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure?.
Solutions for If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure? in English & in Hindi are available as part of our courses for SSC CGL. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free.
Here you can find the meaning of If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure? defined & explained in the simplest way possible. Besides giving the explanation of If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure?, a detailed solution for If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure? has been provided alongside types of If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure? theory, EduRev gives you an ample number of questions to practice If the price of petrol increases by 80%, then by how much percent should a person reduce his consumption if he does not want to change his expenditure? tests, examples and also practice SSC CGL tests.
Explore Courses for SSC CGL exam

Top Courses for SSC CGL

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev