Question

The price of an item yesterday was $60. Today, the price fell to $42. Find the percentage decrease.

Answer 1

Answer:

-30% or 30% decrease

Step-by-step explanation:

What's percentage decrease?

• Percent decrease is the difference between the initial value and new value, indicating a loss of value.
• The formula to find percent decrease is $\frac{NV-IV}{IV} * 100$, where NV = new value and IV = initial value.

How do we solve this problem?

• We know that the original value was $60, so that represents IV. Also, now that the price is $42, it represents NV.
• Now, we plug in the values!
• $\frac{42-60}{60} * 100$
• $\frac{-18}{60} * 100$
• $-\frac{3}{10} * 100$
• $-3 * 10$
• $-30$

Therefore, the answer is 30% decrease.