Question

A commercial property purchased for 1.2 million is revalued at 995,000. Calculate the percentage decrease in the property’s value

Answer 1

17%

Explanation:

1,200,000- 995,000= 205,000

205,000/1,200,000=17%

Answer 2

17%

Explanation:

First: work out the difference (decrease) between the two numbers you are comparing. Then: divide the decrease by the original number and multiply the answer by 100.

First:

1,200,000 - 995,000 = 205,000

Then:

205,000 / 1,200,000 = 0.17

0.17 × 100% = 17%