During the financial crisis of 2008, the price of a barrel of Brent crude oil fell a high of $140 per barrel to around $50 per b
arrel. What is the percent decrease in the price of oil that occurred during this period.
1 answer:
Answer:
decrease of 64.3%
Step-by-step explanation:
Percentage change can be calculated from ...
pct change = ((new value)/(original value) -1) × 100%
= (50/140 -1) × 100%
= (-9/14)×100% = -64 2/7% ≈ -64.3%
The price of crude fell about 64.3% in that period.
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