Elementary Technical Mathematics

Published by Brooks Cole
ISBN 10: 1285199197
ISBN 13: 978-1-28519-919-1

Chapter 1 - Section 1.14 - Rate, Base, and Part - Exercises: 40

Answer

$19.36\%$ decrease

Work Step by Step

First, find the decrease in value: $=\$93,500-\$75,400 \\=\$18,100$ RECALL: $\text{percent decrease}=\dfrac{\text{decrease in value}}{\text{original value}}$ The given problem has: original value =$\$93,500$ increase in value = $\$18,100$ Solve for the percent decrease using the formula above to obtain: percent decrease $= \dfrac{18100}{93500} \\=0.1935828877 \\=0.1935828877 \times 100\% \\=19.35828877\% \\\approx 19.36\%$ Thus, there was a $19.36\%$ decrease in the value of the house.
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