The price of an article is cut by 3%. To restore to its original

The price of an article is cut by 3%. To restore to its original
| The price of an article is cut by 3%. To restore to its original value, the new price must be increased by

A. 3 percent

B. 7.11 percent

C. 3.09 percent

D. 2.69 percent

Please scroll down to see the correct answer and solution guide.

Right Answer is: C

SOLUTION

Let the initial price of the article was Rs.100, then
New price = Rs.97
To restore the original price, price should be increased by = (3/97)x100 
= 3.09%

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