Question

An item that was selling for $72.00 was reduced to $60.00. Find the percent decrease in price. Show all your work.

Answer 1

The formula to figure out the percentage increase or decrease is: 
(new - old) / old * 100% 

new = 60 
old = 72 

(60 - 72) / 72 * 100% 
-12 / 72 * 100% 
= -1/6 * 100% 
= -0.1666... * 100% 
≈ -16.667% 

Because it is negative, that's a decrease. 

Answer: 
A decrease of about 16.7%