Question

the house was originally on the market for $358,000 and sold for $202,000 what was the percent of decrease in price

Answer 1

Answer:

43.6%

Explanation:

Initial Price of the house = $358,000

Final price of the house = $202,000

The percent of decrease can be obtained using the formula:

$\text{Percent Decrease =}\frac{Initial\text{ Price-Final Price}}{\text{Initial Price}}\times100$

Therefore:

$\begin{gathered} \%\text{ decrease=}\frac{358,000-202,000}{358,000}\times100 \\ =\frac{156,000}{358,000}\times100 \\ =43.6\% \end{gathered}$

The percent of decrease in price​ is 43.6%.