The price of diesel increases by 50 %. Find by how much percent a truck owner must reduce his consumption in order to maintain the same budget?
Answer with explanationAnswer: Option C
If the price of goods increases by R %, then the reduction in consumption so as not toincrease the expenditure can be calculated using the formula:
|(100 + R)|
|(100 + 50)|
= 33.33 %
The truck owner must reduce its consumption in order to maintain the same budget by 33.33 %
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