In January 2015, the price of gas was on average $2.05 per gallon. This was $1.20 cheaper than a year before. What is the percent of decrease in price?

Question

need help answering this word problem. need help understanding the relationships in the word problem. we work with the formula P=B x R and R= portion

                                     base

Answer 1

Marlie, the percent of increase or decrease is the difference/original price, then times 100.

 

So, the 2014 price was 2.05 + 1.20 = 3.25.

 

1.2/3.25 = 0.369 = 37%

 

Hope this helps!