ScottEdden
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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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Interea
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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%.
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ScottEdden
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Interea
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How strange, I'm pretty sure you are using the correct method :confused:
(Original post by ScottEdden)
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Last edited by Interea; 1 year ago
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ScottEdden
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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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username402722
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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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ScottEdden
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very true, I was just trying to work out the formula thanks for the reply.
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RogerOxon
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(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%.
The correct answer is closer to 9%. Check your working.
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ScottEdden
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thanks, so we can all agree it's not 2.9%?
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CrownCopyright
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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

100% -90.91% = 9.09% and that is your answer
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ScottEdden
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nice one thanks, if it came up in an exam that's what I would put
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