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There has been a successive increase of 25% and 20%

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Joined: 07 Mar 2016
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There has been a successive increase of 25% and 20%  [#permalink]

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New post 02 May 2016, 06:14
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A
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Difficulty:

  65% (hard)

Question Stats:

44% (01:35) correct 56% (01:32) wrong based on 32 sessions

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There has been a successive increase of 25% and 20% in the price of petrol from the previous month. By how much %age a man should reduce his consumption so that his expenditure does not change?

a.) 33.33%
b.) 50%
c.) 66.66%
d.) 15%
e.) 75%

I reached upto 150$ increased price, but cudnt understand after that.
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Joined: 13 Apr 2015
Posts: 1685
Location: India
Concentration: Strategy, General Management
GMAT 1: 200 Q1 V1
GPA: 4
WE: Analyst (Retail)
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Re: There has been a successive increase of 25% and 20%  [#permalink]

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New post 02 May 2016, 06:36
Earlier price of petrol = x
Current price of petrol = (5/4) * (6/5) * x = 1.5x

Let earlier Consumption = 100 gallons

Earlier: x dollars --> 100 gallons
Now: 1.5x dollars --> 100 gallons --> x dollars --> 100*2/3 = 66.66 gallons

Therefore the person should reduce his consumption by 100 - 66.66 = 33.33 gallons if his expenditure has to remain same.

Answer: A
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Re: There has been a successive increase of 25% and 20%  [#permalink]

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New post 02 May 2016, 06:39
1
ashutoshsh wrote:
There has been a successive increase of 25% and 20% in the price of petrol from the previous month. By how much %age a man should reduce his consumption so that his expenditure does not change?

a.) 33.33%
b.) 50%
c.) 66.66%
d.) 15%
e.) 75%

I reached upto 150$ increased price, but cudnt understand after that.



hi,
so we work ahead of 150$..
this means you took initial petrol price as 100..
so \(x_1*100 = 100*x_1\)..
After the increase it becomes \(x_2*150\)..
since consumption is same \(100*x_1=150*x_2\)..
0r \(\frac{100}{150}x_1 = x_2 = .66x_1\)..

this means the NEW consumption is 66.66% of previous..
so decrease = 100-66.66 = 33.33%
A
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Re: There has been a successive increase of 25% and 20%  [#permalink]

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New post 28 Mar 2019, 09:50
Let the original cost be 100 per litre
new cost per litre = (120/100)*125 = 150
if man spends 150 on 1 litre
he can spend 100 on (1/150)*100*100=66.67%
reductio % = 100-66.67=33.33% i.e A
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Re: There has been a successive increase of 25% and 20%   [#permalink] 28 Mar 2019, 09:50
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There has been a successive increase of 25% and 20%

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