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

Answer 1

To determine the percent of change for the novel's price, we use the formula for percent change:

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

In this case, the old price is the regular price of $24.95, and the new price is the sale price of $14.97.

Now, plug in the numbers:

1. Calculate the difference in price: \[ 14.97 - 24.95 = -9.98 \]

2. Now, calculate the percent change: \[ \text{Percent Change} = \frac{-9.98}{24.95} \times 100 \approx -40.05 \]

The negative sign indicates a decrease in price. So, the percent of change is approximately 40.05% decrease.