The price of a recliner changes from $478 to $363.28. Find the percent of increase or decrease. (1 point)
32% decrease
24% decrease
32% increase
24% increase
24% decrease
To find the percent of increase or decrease, we first need to calculate the difference between the final price and the initial price.
The difference is:
$363.28 - $478 = -$114.72
Since the difference is negative, this indicates a decrease in price.
Next, we divide the difference by the initial price and multiply it by 100 to find the percentage of decrease:
(-$114.72 / $478) * 100 = -23.97%
Therefore, the correct answer is a 24% decrease.