Answered

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12. One year ago the median price for a home was $342,000. Now the current median price for a home is $215,000. What was the percent decrease in the median price of a home over the last year? Give your answer to at least one decimal place.%

Sagot :

One year ago the median price for a home was $342,000. Now the current median price for a home is $215,000. What was the percent decrease in the median price of a home over the last year? Give your answer to at least one decimal place.

In this problem

$342,000 ------> represents 100%

so

Applying proportion

Find out how much percentage represents the difference (342,000-215,000=127,000)

100/342,000=x/127,000

solve for x

x=(100/342,000)*127,000

x=37.1%

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