After a product was reduced $20, it sold for $380. What precent was reduced?
P-20=380 solve for P
Percent reduced= (P-380)/P x 100
To find the original price (P) after a $20 reduction and a final selling price of $380, you can use the equation P - 20 = 380.
To solve for P, you need to isolate it on one side of the equation.
Adding 20 to both sides of the equation, you get:
P - 20 + 20 = 380 + 20
P = 400
Now that you know the original price (P) is $400, you can calculate the percentage reduction using the formula:
Percent reduced = ((P - 380) / P) * 100
Plugging in the values:
Percent reduced = ((400 - 380) / 400) * 100
Percent reduced = (20 / 400) * 100
Percent reduced = 0.05 * 100
Percent reduced = 5%
Therefore, the product was reduced by 5%.