Question

The retail price for 1 kg of beef is $19.50/kg but this week it is on sale for $13.00/kg. What is the percentage change in the price of beef?

Answer 1

-33.33% percentage change

Explanation:

• Percentage Change = [(New Price - Old Price) / Old Price] * 100
• New Price is the current price of beef, which is $13.00/kg.
• Old Price is the original price of beef, which is $19.50/kg.
• Let's plug these values into the formula:
• Percentage Change = [($13.00 - $19.50) / $19.50] * 100
• Percentage Change = [($-6.50) / $19.50] * 100
• Percentage Change = (-0.3333) * 100Percentage Change ≈ -33.33%