The price of apple was increased two times successively by 7% . By what percent should the new price be reduced so as to restore the original price?
Answer & explanation
Correct answer: option 2
7% = \(\frac{7}{100}\)
Let number = 100
After increasing by 10% successively, the number = 100 × \(\frac{107}{100}\) × \(\frac{107}{100}\) = 114.49
To restore number should be decreased by = 114.49 - 100 = 14.49
Decreasing percentage = \(\frac{14.49}{114.49}\)× 100 = 12.7%