Answer:
-30% or 30% decrease
Step-by-step explanation:
What's percentage decrease?
- Percent decrease is the difference between the initial value and new value, indicating a loss of value.
- The formula to find percent decrease is [tex]\frac{NV-IV}{IV} * 100[/tex], where NV = new value and IV = initial value.
How do we solve this problem?
- We know that the original value was $60, so that represents IV. Also, now that the price is $42, it represents NV.
- Now, we plug in the values!
- [tex]\frac{42-60}{60} * 100[/tex]
- [tex]\frac{-18}{60} * 100[/tex]
- [tex]-\frac{3}{10} * 100[/tex]
- [tex]-3 * 10[/tex]
- [tex]-30[/tex]
Therefore, the answer is 30% decrease.
