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Chapter 8: Problem 56

A FAX machine regularly sells for \(\$ 380\). The sale price is \(\$ 266\). Find the percent decrease of the sale price from the regular price.

Short Answer

Expert verified
The percent decrease of the sale price from the regular price is 30%.

Step by step solution

01

Calculate the Difference

First, calculate the difference in price between the regular price and the sales price. This is done by using the formula for the difference which is regular price minus sales price. In this case, the formula becomes \(380 - 266 = 114\).
02

Calculate the percent decrease

Next, we calculate the percent decrease from the regular price by dividing the difference of the prices by the regular price and then multiplying by 100 (to convert the decimal into a percentage). In this case, that becomes \(\frac{114}{380} \times 100 = 30\%\).
03

Interpret the result

The percentage obtained tells us that the sale price of the product is 30% less than the regular price.

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Most popular questions from this chapter

In Exercises 1-10, use $$ P M T=\frac{P\left(\frac{r}{n}\right)}{\left[1-\left(1+\frac{r}{n}\right)^{-n t}\right]} $$ Round answers to the nearest dollar. Suppose that you borrow $30,000 for four years at 8% for the purchase of a car. Find the monthly payments and the total interest for the loan.

Describe two advantages of leasing a car over buying one.

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Describe what happens to the portions of payments going to principal and interest over the life of an installment loan.

What is a loan amortization schedule?
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