Question

The price of an item yesterday was $115. Today, the price fell to $46. Find the percentage decrease.

Answer 1

Answer: 60%

Explanation:

We can use the percentage decrease formula. This formula finds the difference between the values, divides by the old value to find the proportional change as a decimal, and then multiplies by 100 to get a percent. Since $115 was the price of the item yesterday, this is our old value.

Percent Decrease = [(Old Value - New Value) / Old Value] * 100

Percent Decrease = [($115 - New Value) / $115] * 100

Percent Decrease = [($115 - $46) / $115] * 100

Percent Decrease = [$69 / $115] * 100

Percent Decrease = 0.6 * 100

Percent Decrease = 60%

This means that the percent decrease was 60%.