Question

The price of a house is originally listed at $105,000. The owners are having a hard time selling it and decide to reduce the price to $88,200. What is the percentage decrease of the price of the house?

Answer 1

A percentage change can be calculated using ...

... percent change = ((new value) - (original value))/(original value) × 100%

Filling in the numbers gives

... percent change = ((88,200 - 105,000)/(105,000) × 100% = -0.16 × 100% = -16%

A negative number for a percentage change indicates a decrease.

The price of the house decreased by 16%.