The regular price of a novel is $24.95. It is currently on sale for $14.97. Complete the proportion to determine the percent of change.(2 points)

Question

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Question 2
What is the percent of change in this situation?(1 point)

% Round the answer to the nearest whole percent.
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Answer 1

To find the percent of change, we can set up the proportion using the following formula for percent change:

\[ \text{Percent Change} = \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \times 100 \]

In this scenario:

• Old Value (regular price) = $24.95
• New Value (sale price) = $14.97

Let's calculate the percent change.

1. Calculate the difference: \[ \text{Difference} = \text{New Value} - \text{Old Value} = 14.97 - 24.95 = -9.98 \]

2. Now, calculate the percent change: \[ \text{Percent Change} = \frac{-9.98}{24.95} \times 100 \]

Calculating this gives us: \[ \text{Percent Change} = \frac{-9.98}{24.95} \times 100 \approx -40.05 \]

Since we are looking for the absolute percent change (as a positive number), we take the absolute value:

\[ \text{Percent Change} \approx 40% \]

So, the percent of change is 40%.