Question

I’m 1999, total revenue of a company from music sales and licensing was $14.4 billion. It was forecasted that this number would continue to drop into it reached $5.2 billion in 2014. Find this percent decrease in music revenue

Answer 1

Given data:

Music revenue in 1999 = $14.4 billion

Music revenue in 2014 = $5.2 billion

The percentage decrease = (revenue in 1999 - revenue in 2014) / revenue in 1999 x 100

$\begin{gathered} \text{Percentage = }\frac{14.4-5.2}{14.4}\times100 \\ =\frac{9.2}{14.4}\times100 \end{gathered}$$\begin{gathered} P=0.638\times100 \\ P=63.8 \end{gathered}$

Thus, the percentage decrese in music revenue is 63.8%