For each price, calculate the percent price decrease from a base value of $124. Round each answer to the nearest percent.
a) $92
b) $62
c) $115
d) $25
my answer:
a) ((92 - 124) / 124) * 100 = -25.81 %
b) ((62 - 124) / 124) * 100 = -50 %
c) ((115 - 124) / 124) * 100 = -7.26 %
d) ((131 - 124) / 124) * 100 = 5.65 %
is my answer correct?
the math looks good, but clearly the last one is an increase.
As for the others, the % change is correct, but a -25% change is a 25% decrease, right? The "decrease" implies a negative change.
thanks oobleck
To calculate the percent price decrease from a base value, we need to use the following formula:
Percent decrease = ((Base value - New value) / Base value) * 100
Let's calculate the percent price decrease for each given price:
a) $92:
Percent decrease = ((124 - 92) / 124) * 100 = (32 / 124) * 100 ≈ 25.81 ≈ 26%
b) $62:
Percent decrease = ((124 - 62) / 124) * 100 = (62 / 124) * 100 ≈ 50.00 ≈ 50%
c) $115:
Percent decrease = ((124 - 115) / 124) * 100 = (9 / 124) * 100 ≈ 7.26 ≈ 7%
d) $25:
Percent decrease = ((124 - 25) / 124) * 100 = (99 / 124) * 100 ≈ 79.84 ≈ 80%
Therefore, rounded to the nearest percent, the percent price decreases are:
a) 26%
b) 50%
c) 7%
d) 80%