Question

In one month, the median home price in the west fell from $203,400 to $191,800. Find the percent decrease. Round to the nearest tenth of a percent

Answer 1

5.7%

Explanation:

We can calculate the percentage decrease by stating that the original value subtracted from the decreasing value equals the decreased price.

Taking into account that the decreasing value is equal to the percent decrease times the original value.

Therefore, we can establish the following equation:

`203400-203400\cdot x=191800`

We solve for x (percent decrease):

`\begin{gathered} -203400\cdot x=191800-203400 \\ -203400x=-11600 \\ x=(-11600)/(-203400) \\ x=0.057 \\ \text{ as a percentage} \\ x=0.057\cdot100 \\ x=5.7\% \end{gathered}`

The percent decrease is 5.7%