How to Calculate Percent of Change in Price of a Cell Phone
What is the percent of change in the price of a cell phone today compared to the price in 2000?
Today, the price of a new cell phone is $129. In 2000, the price was $240. What is the percent of change in the price of a cell phone today?
Percent of Change Calculation
The percent of change in the price of a cell phone from $240 in 2000 to $129 today is -46.25%.
To calculate the percent of change in the price of a cell phone, follow these steps:
- Subtract the old price from the new price to find the change in quantity.
- Divide the change in quantity by the old price and multiply by 100% to find the percentage change.
In this case:
Change in quantity = New price - Old price = $129 - $240 = -$111
Percentage change = (Change in quantity / Old price) x 100% = (-$111 / $240) x 100% = -46.25%
Therefore, the price of a cell phone has decreased by approximately 46.25% since 2000.