What a Turnaround!

The other day I ran into a friend whom I had not met for a long time. He owned a library. Ashish looked rather glum. I asked him what was troubling him.

"Can't seem to be making a living out of my library," he said. "People, it seems, don't like to read. Very few people have signed up as members in my library."

I strongly disagreed with Ashish that people didn't like to read. There can be no better friend than a good book!

"How much do you charge as the subscription fee?" I asked him. He told me. I thought the fee was too high. "Reduce the fee," I told him, "then, I will also sign up as a member". After some light conversation we departed.

Few months later, I recalled my promise to Ashish about signing up as a member in his library. I went to his place and found him very busy. There were quite a few members who were searching for books in the shelves.

"You seem to have made a turaround," I told him.

"Oh yes, I thought over your suggestion and implemented it. I reduced the subscription fee by 20 per cent and, as a result, my total collection amount has increased by 60 per cent," Ashish told me smiling from ear to ear.

"That's wonderful! What has been the percent increase in the number of members?" I asked him.

"Why don't you work that out from the details I have provided? If you do so, I will offer you free membership in my library," he said.

I have always been weak in math. Please help me figure out the percent increase in the number of members; if you help me I will get to read all the wonderful books for free!

Click here for the solution