Question
Download Solution PDFThe price of a TV was ₹55,000 last year, and this year it is ₹42,500. Find the percentage decrease in price. (Rounded up to two decimal places)
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFGiven:
Price last year (Plast) = ₹55,000
Price this year (Pthis) = ₹42,500
Formula used:
Percentage decrease = \(\dfrac{(P_{last} - P_{this})}{P_{last}} \times 100\)
Calculation:
Percentage decrease = \(\dfrac{(55000 - 42500)}{55000} \times 100\)
⇒ Percentage decrease = \(\dfrac{12500}{55000} \times 100\)
⇒ Percentage decrease = \(0.2273 \times 100\)
⇒ Percentage decrease = 22.73%
∴ The correct answer is option 1.
Last updated on Jul 16, 2025
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