If the duty on an article is reduced by 40% of his present rate by how much percent must its consumption increase in order that the revenue remains unaltered ?

A. 60%

B. $$62\frac{1}{3}$$%

C. 72%

D. $$66\frac{2}{3}$$%

Answer: Option D

Solution(By Examveda Team)

% change = $$\frac{{\text{R}}}{{100 \pm {\text{R}}}}$$   × 100%
Required answer :
= $$\frac{40}{100 - 40}$$   × 100
= $$\frac{40}{60}$$ × 100
= $$\frac{200}{3}$$
= $$66\frac{2}{3}$$%