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Finding the Percent Decrease in Average Gas Prices
Apply the seven-step problem-solving strategy to find a percent decrease.
Problem: The average price of a gallon of gas in one city in June 2014 was $3.71. The average price in that city in July was $3.64. Find the percent decrease.
- Identify what to find: the percent decrease.
- Name the unknown: Let = the percent decrease.
- Find the amount of decrease: Subtract the new price from the original price:
- Translate the percent question: " is what percent of ?" becomes the equation:
- Solve by dividing both sides by :
- Convert to percent form and round to the nearest tenth:
- Check: If the original price had been $4, then of $4 would be 8 cents. Since $0.07 is close to 8 cents and $3.71 is close to $4, a result of is reasonable.
- Answer: The price of gas decreased .
This example shows the percent decrease procedure in action with decimal values. In Step 3 the original amount is placed first in the subtraction () so the result is positive, and in Step 5 the division is rounded to the nearest thousandth () in order to express the final percent to the nearest tenth ().
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