Consider two cases as below.

Case $1$: A company buys $1000$ pieces per year of a certain part from vendor $\text{'}x\text{'}.$ The changeover time is $2$ hours and the price is Rs$.10$ per piece. The holding cost rate per part is $10\%$ per year.

Case $2$: For the same part, another vendor $\text{'}Y\text{'}$ offers a design where the changeover time is $6$ minutes, with a price of Rs$.5$ per piece, and a holding cost rate per part of $100\%$ per year. The order size is $800$ pieces per year from $\text{'}x\text{'}$ and $200$ pieces per year from $\text{'}Y\text{'}.$

Assume the cost of downtime as Rs$.200$ per hour.

The percentage reduction in the annual cost for Case $2,$ as compared to Case $1$ is $($round off to $2$ decimal places$).($GATE$-20-$SET$-1)$