Question

the house was originally on the market for $358,000 and sold for $202,000 what was the percent of decrease in price

Answer 1

43.6%

Step-by-step explanation:

Initial Price of the house = $358,000

Final price of the house = $202,000

The percent of decrease can be obtained using the formula:

`\text{Percent Decrease =}\frac{Initial\text{ Price-Final Price}}{\text{Initial Price}}*100`

Therefore:

`\begin{gathered} \%\text{ decrease=}(358,000-202,000)/(358,000)*100 \\ =(156,000)/(358,000)*100 \\ =43.6\% \end{gathered}`

The percent of decrease in price​ is 43.6%.