A house was orginally listed for sale at $250,000. After 3 months, the seller dropped the price to $235,000. What was the percent of decrease in the price?
To find the percentage decrease in the price, we first need to calculate the difference between the original price and the new price:
$250,000 - $235,000 = $15,000
Next, we need to calculate the percentage decrease by dividing the difference by the original price and then multiplying by 100:
($15,000 / $250,000) * 100 = 0.06 * 100 = 6%
Therefore, the percent decrease in the price of the house was 6%.