Question

The price of an item yesterday was $60. Today, the price fell to $42. Find the percentage decrease.

Answer 1

-30% or 30% decrease

Explanation:

What's percentage decrease?

• Percent decrease is the difference between the initial value and new value, indicating a loss of value.
• The formula to find percent decrease is
  `(NV-IV)/(IV) * 100`, where NV = new value and IV = initial value.

How do we solve this problem?

• We know that the original value was $60, so that represents IV. Also, now that the price is $42, it represents NV.
• Now, we plug in the values!
• 
  `(42-60)/(60) * 100`
• 
  `(-18)/(60) * 100`
• 
  `-(3)/(10) * 100`
• 
  `-3 * 10`
• 
  `-30`

Therefore, the answer is 30% decrease.