Question

The price of a pair of jeans was reduced from $ 40 to $ 24. By what percentage was the price of the pair of jeans reduced

Answer 1

The percentage by which the price of the pair of jeans was reduced is 66.67%.

Given the following data:

• Old price = $40

• New price = $24

To find the percentage by which the price of the pair of jeans was reduced:

Mathematically, percentage decrease is given by the formula:

$Perecent\;decrease = \frac{Old\;price - New\;price}{New\;price} \times 100$

Substituting the given parameters into the formula, we have;

$Perecent\;decrease = \frac{40 - 24}{24} \times 100\\\\Perecent\;decrease = \frac{16}{24} \times 100\\\\Perecent\;decrease = \frac{1600}{24}$

Percent decrease = 66.67%

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