2023 Cayley Problem 9

A positive number is increased by 60\%. By what percentage should the result be decreased to return to the original value?

\textbf{(A)}\ 57.5\%\quad \textbf{(B)}\ 40\%\quad \textbf{(C)}\ 62.5\%\quad \textbf{(D)}\ 50\%\quad \textbf{(E)}\ 37.5\%

If there are no answer choices shown, enter a numerical answer.

Full credit to this problem is given to the CEMC, you may view all Cayley contests here.