Question

A grocery store reduced the price of a loaf of bread from $2.80 to $2.73. Find the percent decrease.Round your answer to the nearest tenth of a percent.

Answer 1

Recall that to determine the percentage of decrease, we can use the following formula:

`PD=\frac{\text{Old value-New Value}}{Old\text{ value}}*100.`

Substituting the given values in the above formula, we get:

`(2.80-2.73)/(2.80)*100.`

Simplifying the above result, we get:

`0.025*100=2.5.`

Answer: 2.5%.