Find the percent decrease from 58 cents to 7 cents round to one decimal place

Question

maxxam inc.'s third-quarter net income plummeted 87.3 percent, to $700,000, or 7 cents a share, from $5.5 million, or 58 cents, a year earlier, largely because of price weaknesses at its kaiser aluminum unit.”

find the percent decrease from 58¢ to 7¢, rounded to one decimal place.

Answer 1

58 to 7 is a 51 decrease

51/58 = 0.879 = 87.9% decrease