If each side of a rectangle is decreased by 13%, then its area will decrease by:

Let the length and breadth of the rectangle are $$l$$ and $$b$$ respectively

Area of the rectangle(A) = $$lb$$

If length and breadth are decreased by 13% then

Area of the rectangle(A') = $$\frac{87}{100}l\times\frac{87}{100}b=\frac{7569}{10000}lb$$

$$\therefore\ $$Required Percentage = $$\frac{A-A'}{A}\times100=\frac{lb-\frac{7569}{10000}lb}{lb}\times100=\frac{2431}{10000}\times100=24.31\%$$

Hence, the correct answer is Option B