Final answer:
To calculate the percentage decrease in the price of an item, subtract the new price from the original price, divide by the original price, and then multiply by 100. For the item that decreased from $120 to $36, this results in a 70% decrease.
Step-by-step explanation:
The student is asking how to calculate the percentage decrease in the price of an item. To find the percentage decrease, the formula (Original Price - New Price) ÷ Original Price x 100 is used. In this case, the original price was $120, and the new price is $36.
First, we calculate the difference in price: $120 - $36 = $84. Next, we divide this difference by the original price: $84 ÷ $120 = 0.7. Finally, we convert this to a percentage by multiplying by 100, which results in a 70% decrease.