Answer:
The price decreased by 16 1/3%, or approximately 16.3%
Step-by-step explanation:
Use the formula for percent change. If the answer is negative, it is a percent decrease. if the answer is positive, it is a percent increase.
percent change = (new price - old price)/(old price) * 100%
In this case, use:
new price = 50
old price = 60
percent change = (new price - old price)/(old price) * 100%
percent change = (50 - 60)/60 * 100%
percent change = -10/60 * 100%
percent change = -1/6 * 100%
percent change = -100/6% = -50/3% = -16 1/3%
The price decreased by 16 1/3%, or approximately 16.3%
