Question

suppose brian is in the market for a used textbook and the campus bookstore is having a sale. if the initial price of the used book is $73.25 and the discounted price is $68, what is the percentage change in the book price? round your answer to two places after the decimal. percentage change: %

Explanation:

Step1: Find the change in price

The initial price is $73.25 and the discounted price is $68. The change in price is the initial price minus the discounted price. So, $73.25 - $68 = $5.25. But since it's a discount, the change is a decrease, so we can consider it as -$5.25 (or just use the formula for percentage change which accounts for direction).

Step2: Use the percentage change formula

The formula for percentage change is $\text{Percentage Change} = \frac{\text{New Value} - \text{Old Value}}{\text{Old Value}} \times 100\%$. Here, the old value (initial price) is $73.25 and the new value (discounted price) is $68. Plugging in the values: $\frac{68 - 73.25}{73.25} \times 100\%$.
First, calculate the numerator: $68 - 73.25 = -5.25$.
Then, divide by the old value: $\frac{-5.25}{73.25} \approx -0.07167$.
Multiply by 100% to get the percentage: $-0.07167 \times 100\% \approx -7.17\%$. The negative sign indicates a decrease.

Answer:

-7.17