Question

The price of an item has dropped to $88 today. yesterday it was $160. find the percentage decrease.

Answer 1

Given:

Original price = $160

New price = $88

To find the percentage decrease, use the formula below:

`\text{Percentage decrease=}\frac{Old\text{ price - New price}}{Old\text{ price}}*(100)/(1)`

Thus, we have:

`\begin{gathered} Percentage\text{ decrease=}(160-88)/(160)*(100)/(1) \\ \\ \text{Percentage decrease = }(72)/(160)*(100)/(1) \\ \\ \text{Percentage decrease = }0.45*100\text{ = 45\%} \end{gathered}`

Therefore, the percentage decrease is 45%

ANSWER:

45%