A product's price is reduced from $40 to $30. What is the percentage decrease in

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Question: A product\'s price is reduced from $40 to $30. What is the percentage decrease in price?

Options:

Correct Answer: 25%

Solution:

Percentage Decrease = ((Old Price - New Price) / Old Price) x 100 = (($40 - $30) / $40) x 100 = 25%.

A product's price is reduced from $40 to $30. What is the percentage decrease in price?

A product's price is reduced from $40 to $30. What is the percentage decrease in price?

Step 1: Identify the old price and the new price. The old price is $40 and the new price is $30.
Step 2: Subtract the new price from the old price to find the decrease in price. So, $40 - $30 = $10.
Step 3: Divide the decrease in price by the old price. This means $10 (decrease) divided by $40 (old price) equals 0.25.
Step 4: Convert the result from Step 3 into a percentage by multiplying by 100. So, 0.25 x 100 = 25%.
Step 5: The percentage decrease in price is 25%.

Percentage Decrease – The calculation of how much a value has decreased in relation to its original value, expressed as a percentage.