What is the percent decrease when the balance in a bank account goes from $300 to $60?

Question

The percent decrease is 20%.
The percent decrease is 25%.
The percent decrease is 80%.
The percent decrease is 87%.

Answer 1

To find the percent decrease from $300 to $60, you can use the formula:

\[ \text{Percent Decrease} = \left( \frac{\text{Original Value} - \text{New Value}}{\text{Original Value}} \right) \times 100 \]

In this case, the original value is $300 and the new value is $60.

1. Calculate the decrease: \[ 300 - 60 = 240 \]

2. Now plug the values into the formula: \[ \text{Percent Decrease} = \left( \frac{240}{300} \right) \times 100 \]

3. Simplifying the fraction: \[ \frac{240}{300} = 0.8 \]

4. Now multiply by 100 to get the percentage: \[ 0.8 \times 100 = 80 \]

So the percent decrease is 80%.