Chapter 2.10, Problem 12P

The original price for a gallon of milk is $4.19. The sale price this week for a gallon of milk is $2.99. What is the percent decrease to the nearest percent?

To determine

To find: The percent decrease to the nearest percent.

Answer to Problem 12P

29%

Explanation of Solution

Given information: The original price for a gallon of milk is $4.19. The sale price this week for a gallon of milk is $2.99.

Calculation:

Since new amount is less than original amount, so the percent change is a decrease.

Original price = $4.19

New price = $2.99

The percent decrease is

$\begin{array}{l}\%decrease=\frac{\left|newprice-originalprice\right|}{originalprice}\times 100\\ \%decrease=\frac{\left|2.99-4.19\right|}{4.19}\times 100\\ \%decrease=\frac{1.2}{4.19}\times 100\approx 29\%\end{array}$

Thus, percent decrease is 29%.