Question

Find the percent of change if the original price is $246.95 and the new price is $199.95. Round to nearest tenth of a percent if necessary. Show your work and state whether this is an increase or decrease.

Answer 1

To find the percent of change, we can use the formula:

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

Here, the original price is $246.95 and the new price is $199.95.

1. **Calculate the change in price:**

\[
\text{Change} = \text{New Value} - \text{Original Value} = 199.95 - 246.95 = -47.00
\]

2. **Substitute the values into the percent change formula:**

\[
\text{Percent of Change} = \frac{-47.00}{246.95} \times 100
\]

3. **Calculate the fraction:**

\[
\frac{-47.00}{246.95} \approx -0.190
\]

4. **Convert to percent:**

\[
-0.190 \times 100 \approx -19.0
\]

5. **Round to the nearest tenth of a percent:**

The result is -19.0%, which is already rounded.

6. **Determine if it is an increase or decrease:**

Since the value is negative, this indicates a decrease.

Therefore, the percent of change from the original price to the new price is approximately **19.0% decrease**.