Question

Antonio's Pizza shop earned a profit of $245,000 for this year. Last year they earned a profit of $315,000. What is the percent of decrease in profit? Round to the nearest whole percent.

Answer 1

Answer:

22%

Step-by-step explanation:

Given: Profit this year= $245000

           Profit last year= $315000

Now, lets find the percentage decrease in profit this year.

Profit percentage= $\frac{\textrm{difference in profit}}{\textrm{last years profit}} \times 100$

Profit percentage= $\frac{\ 315000-\ 245000}{\ 315000} \times 100$

⇒ Profit percentage= $\frac{70000}{315000} \times 100$

⇒ Profit percentage=~$\frac{7000}{315} = 22.22\%$ ≅ 22% (nearest whole percent)

∴ Percent decrease in profit is 22%