The price of rice has increased by 60%. In order to restore to the original price, the new price must be reduced by ?
Options: A) 33 1/3% B) 37 1/2% C) 40% D) 45% E) NONE
Answer   Let original price = Rs. 100   ⇒ Increase price = Rs. 160   ⇒ Decrease on Rs. 160 = Rs. 60   ∴ Decrease on Rs. 100 = (60/160) x 100 % = 37 1/2%   Correct Option: 37 1/2%
<result>B</result>
The price of rice has increased by 60%. In order to restore to the original price, the new price must be reduced by ?