A question is given followed by two statements I and II. Consider the Question and the Statements and mark the correct option.<br><br>Question : If the price of petrol goes up by 20%, by what percentage should the consumption be reduced so that the expenditure remains the same?<br><br>Statement-I: Price of petrol per litre was Rs. 90<br><br>Statement-II: Consumption was 24 litre before price hike<br><br>Which one of the following is correct in respect of the above Question and the Statements?

  1. A. The Question can be answered by using one of the Statements alone, but cannot be answered using the other Statement alone
  2. B. The Question can be answered by using either Statement alone
  3. C. The Question can be answered by using both the Statements together, but cannot be answered using either Statement alone
  4. D. The Question can be answered even without using any of the Statements ✓

Correct Answer: D. The Question can be answered even without using any of the Statements

Explanation

When price increases by R\%, the required percentage reduction in consumption to keep expenditure constant is \frac{R}{100+R} \times 100\%. Here, it is \frac{20}{120} \times 100 = 16.67\%. This formula does not require the initial price or consumption, making both statements unnecessary.

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