a) 28%
b) 17%
c) 27%
d) 24%
Answer: b
Explanation: Let the initial cost of raw material be 100. So, initial labor cost was 25 and net cost was 125
15% increment in raw materials cost and labor cost has gone up to 30% from 25 %
Raw material cost = 115
Labor cost = (115 × 30%) = 34.5
So, New net cost = 115 + 34.5 = 149.5
Difference of labor cost = 149.5 – 125 = 24.5
% reduction = $$\frac{{24.5 \times 100}}{{149.5}}$$ = 17%(approx.)
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