The owner of a furniture store decides to reduce the price of a sofa from $ 800 50 560. By what percentage was the price of a sofa reduced?
To calculate the percentage by which the price of the sofa was reduced, you can use the formula:
Percentage reduction = ((original price - new price) / original price) x 100
Original price of the sofa = $800
New price of the sofa = $560
Percentage reduction = (($800 - $560) / $800) x 100
Percentage reduction = ($240 / $800) x 100
Percentage reduction = 0.3 x 100
Percentage reduction = 30%
Therefore, the price of the sofa was reduced by 30%.