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Source: Economist
Until this coming April, the price of all Albanian products will equal their gross price plus a tax of \(20\) percent. By what percentage do we expect the retail price of Albanian cheese to change after April?
1) This April, the gross price of Albanian cheese will increase by \(20\) percent.
2) This April, the tax on Albanian products will change to \(25\) percent of the gross price.
The OA is C
Until this coming April, the price of all Albanian products will equal their gross price plus a tax of \(20\) percent. By what percentage do we expect the retail price of Albanian cheese to change after April?
1) This April, the gross price of Albanian cheese will increase by \(20\) percent.
2) This April, the tax on Albanian products will change to \(25\) percent of the gross price.
The OA is C
