The price of an article was increased two times successively by 20%. By what percent should the new price be reduced so as to restore the original price?
Answer & explanation
Correct answer: option 2
20% = \(\frac{1}{5}\)
Let number = 100
After increasing by 10% successively, the number = 100 × \(\frac{6}{5}\) × \(\frac{6}{5}\) = 144
To restore number should be decreased by = 144 - 100 = 44
Decreasing percentage = \(\frac{44}{144}\)× 100 = 30.56%