# How?

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#1
A price drops from 55000 to 50000. what is the decrease as a %.
I did 5000÷55000 × 100. but the answer is 2.9%. What am I doing wrong? I keep getting 0.9%.
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1 year ago
#2
Are you sure the question is correct? A decrease of 2.9% of 55,000 would be 55,000 x 0.971 = 53,405.
(Original post by ScottEdden)
A price drops from 55000 to 50000. what is the decrease as a %.
I did 5000÷55000 × 100. but the answer is 2.9%. What am I doing wrong? I keep getting 0.9%.
0
#3
0
1 year ago
#4
How strange, I'm pretty sure you are using the correct method
(Original post by ScottEdden)
Last edited by Interea; 1 year ago
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#5
yeah, I was a bit confused as 2.9% is in the answer section....could have they got it wrong? hay ho!
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1 year ago
#6
It's 1/11 x100.

Doesn't happen much in real life. You probably cannot get a house for £55,000 even in the worst parts of the UK.
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#7
very true, I was just trying to work out the formula thanks for the reply.
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1 year ago
#8
(Original post by ScottEdden)
A price drops from 55000 to 50000. what is the decrease as a %.
I did 5000÷55000 × 100. but the answer is 2.9%. What am I doing wrong? I keep getting 0.9%.
0
#9
thanks, so we can all agree it's not 2.9%?
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1 year ago
#10
you have 100% / £55000 (the 100% / initial amount)
100/55000 = 0.00181818 (the % of each unit, in this case, the £)
Multiply the % per £ by the new amount in this case £50000
*£50000 *0.00181818 = 90.91%
the full ammount 100% - the percent of the new ammount 90.91

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#11
nice one thanks, if it came up in an exam that's what I would put
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