The price of an article is cut by 24%. To restore it to its original value, the new price must be increased by:
- A24 percent
- B19.35 percent
- C30 percent
- D31.58 percent
Solution & Step-by-step Explanation
Let the original price be 100.
After a 24% cut, the new price is:
100−24=76
To restore it back to 100, the price needs to be increased by 24 units from the new price base (76):
Required Percentage Increase=(
76
24
)×100%
=(
19
6
)×100%=
19
600
%≈31.58%
After a 24% cut, the new price is:
100−24=76
To restore it back to 100, the price needs to be increased by 24 units from the new price base (76):
Required Percentage Increase=(
76
24
)×100%
=(
19
6
)×100%=
19
600
%≈31.58%