The selling price of a house dropped from $250,000 to
$210,000 over a period of 5 years. By what percentage
did the selling price decrease?
To calculate the percentage decrease, we first need to find the total decrease.
Total decrease = $250,000 - $210,000 = $40,000
Next, we need to calculate the percentage decrease:
Percentage decrease = (Total decrease / Original selling price) x 100
Percentage decrease = ($40,000 / $250,000) x 100
Percentage decrease = 0.16 x 100
Percentage decrease = 16%
Therefore, the selling price of the house decreased by 16%.