At the end of season sale, a company decided to hike the price of an automobile by 20%. By that percentage should the company decrease the new automobile price in order to restore the original price?

Upwork «Business Mathematics» Upwork test
1

X
X * 1.2
X * 1.2 * Y = X
Y = X ( X * 1.2) = 1 / 1.2 = 0.8333
100 - 83.33 = 16.6%