Question

Two years ago a house was worth $358,000. Today it is worth $340,100. Find the percent decrease in price.

Answer 1

The percent decrease in the price of the house is 5%.

Step-by-step explanation:

To find the percent decrease in price, we need to calculate the difference between the two values and then express it as a percentage of the original value. The difference between the original price ($358,000) and the current price ($340,100) is $17,900. To calculate the percent decrease, we divide this difference by the original price and multiply by 100:

Percent Decrease = (Difference / Original Price) * 100

Percent Decrease = (17,900 / 358,000) * 100 = 5%

Therefore, the percent decrease in price is 5%.

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