Question

During the past year, the price of a virtual reality headset fell from 4,950 to 4,450. During the same time period, consumer sales increased from 380,000 to 569,000 headsets. What was the percentage change in price?

1) 10%
2) 11%
3) 12%
4) 13%

Answer 1

The percentage change in price of the virtual reality headset is calculated as the difference between initial and final prices divided by the initial price, times 100. The result is a 10.10% decrease in price, with the closest answer choice being 10%.

Step-by-step explanation:

The question pertains to calculating the percentage change in price of a virtual reality headset that decreased from 4,950 to 4,450. To find the percentage change, we subtract the final price from the initial price and then divide by the initial price. Finally, we multiply the result by 100 to get the percentage.

Percentage Change in Price = ((Initial Price - Final Price) / Initial Price) * 100

Plugging in the given values: Percentage Change in Price = ((4,950 - 4,450) / 4,950) * 100

This gives us: Percentage Change in Price = (500 / 4,950) * 100

After calculating the above expression, we get: Percentage Change in Price = 10.10%

Therefore, the closest answer choice to the calculated percentage change is 10%, which is option 1.