The price of pulses has increased by 45%. By what percentage (rounded off to the nearest integer) the increased price of the pulses should be reduced so that the price of the pulses remains unaltered?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. 31.
Let the price of the pulses be Rs. 100
Price after a 45% increase
New price = 100 + 45% × 100
⇒ 100 + 45 = 145
The reduced price must return to the original price
⇒ 145 - x% × 145 = 100
⇒ 145 - x/100 × 145 = 100
⇒ x/100 × 145 = 145 - 100
⇒ x/100 × 145 = 45
⇒ x = (45 × 100)/145
⇒ x = 31.03 or 31%
So, The increased price should be reduced by 31%