An electronic device that previously sold for $21 has been reduced to 17.43. the price reduction, rounded to the nearest whole percent is
The Correct Answer and Explanation is:
To calculate the price reduction percentage, we use the formula:Price Reduction Percentage=Original Price−New PriceOriginal Price×100\text{Price Reduction Percentage} = \frac{\text{Original Price} – \text{New Price}}{\text{Original Price}} \times 100Price Reduction Percentage=Original PriceOriginal Price−New Price×100
Given:
- Original Price = $21
- New Price = $17.43
Substitute the values into the formula:Price Reduction Percentage=21−17.4321×100\text{Price Reduction Percentage} = \frac{21 – 17.43}{21} \times 100Price Reduction Percentage=2121−17.43×100Price Reduction Percentage=3.5721×100\text{Price Reduction Percentage} = \frac{3.57}{21} \times 100Price Reduction Percentage=213.57×100Price Reduction Percentage≈17%\text{Price Reduction Percentage} \approx 17\%Price Reduction Percentage≈17%
So, the price reduction is approximately 17% when rounded to the nearest whole percent.
Explanation:
The price reduction percentage tells us how much the price has decreased in relation to the original price. The formula for calculating percentage change is straightforward: subtract the new price from the original price to get the change in price, then divide by the original price to find the proportion of the reduction. Finally, multiplying by 100 converts this proportion into a percentage.
In this case, the price reduction was $3.57 ($21 – $17.43), and when we calculate the percentage of this reduction relative to the original price, we get 17%. This is the amount the price has decreased, expressed as a percentage of the original price.
