The price of a gallon of unleaded gas was $2.87 yesterday. Today, the price fell to $2.80. Find the percentage decrease. Round your answer to the nearest 10th of a percent.
To find the percentage decrease, first calculate the difference in price between yesterday and today:
Price decrease = Old price - New price
Price decrease = $2.87 - $2.80
Price decrease = $0.07
Now that you have the decrease, divide it by the original price and multiply by 100 to get the percentage:
Percentage decrease = (Price decrease / Old price) * 100
Percentage decrease = ($0.07 / $2.87) * 100
Percentage decrease = 0.02439024 * 100
Percentage decrease = 2.439024 %
Rounded to the nearest 10th of a percent, the percentage decrease is 2.4%.