Question

Which is the correct answer ?

Answer 1

Answer:

10%

Step-by-step explanation:

Old price: $250,000

New price: $225,000

percent change = (new amount - old amount)/(old amount) * 100%

A negative answer is a percent decrease. A positive answer is a percent increase.

percent change = (225,000 - 250,000)/(250,000) * 100%

percent change = (-25,000)/(250,000) * 100%

percent change = -0.1 * 100%

percent change = -10%

The new price is a 10% price decrease over the old price.

Answer: The price dropped by 10%.