Direction: Observe the graph below and answer the following questions. What is…
2024
Direction: Observe the graph below and answer the following questions.
What is the approximate percentage difference in average price of petrol in 2004 and 2014?
- A.
98%
- B.
100%
- C.
102%
- D.
105%
Show answer & explanation
Correct answer: C
Concept: In direction of percentage-difference problems, the percentage change between two values is computed as (New Value − Old Value) ÷ Old Value × 100, where the earlier of the two years is always taken as the base value.
Application:
From the graph, the average price of petrol in 2004 = Rs. 36.49 and in 2014 = Rs. 73.70.
Difference between 2014 and 2004 = 73.70 − 36.49 = 37.21.
Percentage difference = (37.21 ÷ 36.49) × 100 ≈ 102%, using the 2004 price as the base.
Cross-check: Doubling the 2004 price gives 36.49 × 2 = 72.98, very close to the 2014 price of 73.70 — confirming the price nearly doubled, with the precise figure refining this to 102%.