Question

The price of oil, in dollars per barrel, decline last week by 3.5%. If it starts the week at $102.00 per barrel, at what per barrel price did it end the week?

Answer 1

The cost of the oil per barrel is $98.43 at the bed of the week.

Explanation:

Cost per barrel = $102

Reduction in the coat per barrel = 3.5%

= (3.5/100) (102)

= 3.57

Cost of the oil per barrel at the end of the week = 102 - 3.57

= $98.43

The cost of the oil per barrel is $98.43 at the bed of the week.