To calculate the percent change in price, you can use the following formula:
\[ \text{Percent Change} = \frac{\text{New Price} - \text{Old Price}}{\text{Old Price}} \times 100 \]
In this case:
- Old Price = 1099
- New Price = 999
Substituting in the values:
\[ \text{Percent Change} = \frac{999 - 1099}{1099} \times 100 \]
Calculating the change in price:
\[ 999 - 1099 = -100 \]
Now substituting that back into the formula:
\[ \text{Percent Change} = \frac{-100}{1099} \times 100 \]
Calculating the fraction:
\[ \frac{-100}{1099} \approx -0.0909 \]
Now multiply by 100 to get the percentage:
\[ -0.0909 \times 100 \approx -9.09 \]
Rounding to the nearest tenth gives:
\(-9.1%\)
So, the percent change in price is approximately \(-9.1%\).
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