IIRC they are expecting a 10% drop in total cargo to LEO when the F9 is used in the reusable configuration. It takes far less fuel to get down than it does to get up since they only have to decelerate the lower stage (not the upper, or the cargo) and since the lower stage will be mostly empty at that point (much lighter). Furthermore the initial decent burn will be at a much lower outside atmospheric pressure (near vacuum?) resulting in a higher efficiency.