If price of wheat has increased by 60%. In order to restore to the original price, the new price must be reduced by ?? (answer in percentage)
Assume a was the original price so new price is 1.6 a
Now assume reduction is by a factor of x then 1.6a(1-x) = a 1.6 - 1 = 1.6x x=.6/1.6 or .375 or x=37.5 %
So reduction should be 37.5 %
100/160 = 0.625 Reduction is 1 - 0.625 = 37.5%
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