Question

A diamond ring was reduced from $999.99 to $689.99. Find the percent reduction in the price. Round the answer to the nearest tenth of a percent, if necessary.

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Rasheed

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77 Answers

The formula to calculate the percent reduction is:
\[\text{Percent reduction} = \frac{\text{Original price} - \text{Reduced price}}{\text{Original price}} \times 100\%\]
Given:
Original price = $999.99
Reduced price = $689.99
Let's calculate the percent reduction:
\[\text{Percent reduction} = \frac{999.99 - 689.99}{999.99} \times 100\%\]
\[\text{Percent reduction} = \frac{310}{999.99} \times 100\%\]
\[\text{Percent reduction} \approx 0.31003 \times 100\%\]
\[\text{Percent reduction} \approx 31.003\%\]
Rounded to the nearest tenth of a percent, the percent reduction in the price is approximately 31.0%.

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