The price of a concert ticket went from $224 to $168. What is the percentage of the decrease in the price?
To find the percentage decrease in price, we need to determine the difference between the original price and the new price, and then divide that difference by the original price. Finally, we multiply this result by 100%.
The difference in price is $224 - $168 = $<<224-168=56>>56.
Now, we divide the difference ($56) by the original price ($224): $56/$224 = 0.25.
Finally, we multiply this result by 100% to find the percentage: 0.25 * 100 = 25%.
Therefore, the percentage decrease in the price is 25%.