How to downgrade iPhone application using iTunes

You brand new iPhone with iOS7 automatically updates your applications, but sometimes new version is worse then previous. Or an payed application introduces iAds and developer tries to sack you for an in-app-purchase that removes them? If you regularly backup you iPhone/iPad to iTunes there is a solution for app downgrade. You should do the app downgrade as soon as possible, while old version is still available on you computer.

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