Question

The price of silver went from $26.40 a troy ounce down to $17.16 a troy ounce during the past 6 months. This represents a decrease in price of what percent?

Answer 1

There is decrease of 35% in the price of silver in the past 6 months.

Solution:

Given that  

Price of silver went from $26.40 a troy ounce down to $17.16 a troy ounce during past 6 months need to represent this decrease in percentage  

Price of silver before 6 months = initial price = $26.40

Price of silver now = current price = $17.16

Difference in price in 6 months = 26.40 – 17.16 = $9.24

$\text { Decrease in percentage }=\frac{\text { Diffrence in } 6 \text { months }}{\text { Initial price }} \times 100$

$\begin{array}{l}{=\frac{9.24}{26.4} \times 100} \\\\ {=0.35 \times 100=35 \%}\end{array}$

Hence there is decrease of 35% in the price of silver in the past 6 months.