Question

When moving from Chicago to Milwaukee, your salary went from $65,000 per year to $55,000 per year. By what percent does your salary decrease? Round your answer to the nearest tenth of a percent (one decimal place).

Answer 1

Data:

Initial salary: $65,000

Salary after decrease: $55,000

To find the percentage of decrease you use the next formula:

$D=\frac{O-N}{O}\cdot100$

Where:

D is the percentage of decrease

O is the original value

N is the new value

Then, you have the next:

O=$65,000

N= $55,000

$\begin{gathered} D=\frac{65000-55000}{65000}\cdot100 \\ \\ D=\frac{10000}{65000}\cdot100 \\ \\ D=0.1538\cdot100 \\ \\ D=15.38 \end{gathered}$Then, the percentage of decrease is 15.4% (round to the nearest tenth)