Question

The library in Booneville collected $3,470 in overdue fees last year. This year, the library collected $347. What is the percent of decrease in the amount collected?

Answer 1

To find the percent decrease in the amount collected, we need to calculate the difference between the two amounts (last year's and this year's), divide it by the original amount, and then multiply by 100 to get the percentage.

The difference between the amounts collected is:

$3,470 - $347 = $3,123

The original amount is $3,470.

So the percent decrease is:

($3,123/$3,470) x 100% = 90%

Therefore, the percent decrease in the amount collected is 90%.