Martha's Hair Saloon has recently lowered the prices of haircuts. If the decrease in the price of a haircut is 20% of the new price of a haircut, what is the approximate percent decrease in the price of a haircut at Martha's ?
Pick one:
A) 15%  B) 16.7%  C) 20%  D) 25%  E) 87.5%
Assume new price to be x.   decrease = 20% of the new price of a haircut = 0.2x   Hence, Old price = 1.2x   %decrease = 0.2x/1.2x = 1/6 = 16.67%   Answer :Option 16.7%
<result>B</result>
Martha's Hair Saloon has recently lowered the prices of haircuts. If the decrease in the price of a haircut is 20% of the new price of a haircut, what is the approximate percent decrease in the price of a haircut at Martha's ?