At the end of the summer season, the local farmer’s market marked down its swan gourds to $1.00 apiece. Throughout the summer, the swan gourds had sold for $3.50 each. What was the percent of decrease in cost?
In this concept, you will learn how to calculate the percent of decrease.
Prices can increase. Costs can increase. Numbers can increase. You can find the percent of increase when dealing with an increase. All of these things can also decrease. When there has been a decrease from an original amount to a new lower amount, you can find the percent of decrease.
The percent of decrease from one amount to another is the ratio of the amount of decrease to the original amount.
To find the percent of decrease, follow these steps:
First, find the amount of decrease by subtracting the lower amount from the higher amount.
Next, write a fraction in which the numerator is the amount of decrease and the denominator is the original amount.
Percent of Decrease =Amount of DecreaseOriginal Amount
Then, write the fraction as a percent.
Now let’s look at how to apply these steps.
Find the percent of decrease from 50 to 40.
First, subtract 40 from 50.
Next, write the fraction:
Percent of Decrease =Amount of DecreaseOriginal Amount=1050