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?

Answer 1

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%.