Question

The cost of an LCD TV dropped from $265 in 2012 to $199 in 2014.Find the average rate at which the cost has been decreasing.

Answer 1

The cost of the LCD Tv dropped from $265 in 2012 to $199 in 2014. The average rate at which the cost has been reducing can be calculated below

`\text{Average rate=}(\Delta price)/(\Delta time)=(\Delta p)/(\Delta t)`

Therefore,

`\text{Average rate }=\text{=}(265-199)/(2)=(66)/(2)=33`

The average rate at which the cost decrease is $33