Chapter SH, Problem 7.6.4EP

To determine

To calculate:To find the percent of change and round to the nearest tenth, if necessary. Also, state whether the change is a percent of increase or percent of decrease

Answer to Problem 7.6.4EP

Percent of change $40.2\%$ and the change of percent of decrease.

Explanation of Solution

Given information:from $\$137.50$ to $\$85.25$

Formula used:

Percent of change is calculated as

  $\%change=\left|\frac{Originalnumber-Newnumber}{Originalnumber}\right|\times 100$

Calculation:

Original number $=\$137.50$

New number $=\$85.25$

Percent of change is calculated as

  $\begin{array}{l}\%change=\left|\frac{137.50-85.25}{137.50}\right|\times 100\\ \%change=\frac{55.25}{137.50}\times 100\\ \%change=0.4018\times 100\\ \%change=40.17\%\\ \%change=40.2\%\end{array}$

Since original number is greater than new number

Then, % change is percent of decrease

Conclusion:

Percent of change $40.2\%$ and the change of percent of decrease.