Which among the following is the correct value of Income Elasticity of Petrol consumption from the following information?
The Government announces a 10 per cent dearness allowance to its employees. As a result, average monthly salary of Government employees increases from Rs. 20,000 to Rs. 22,000. Following the pay hike, monthly petrol consumption of government employees increased from 150 litres per month to 165 litres per month:
1
0.5
2
1
3
2
4
0.1