A store is having a sale on bicycles, where the original price of the bicycle is 195 dollars and its sale price is 164 dollars and 73 cents. Determine the percentage discount to the nearest percent.
To work out the percentage change, in this case a percentage decrease or discount, we need to work out the actual change, the difference between the two values, divide this by the original value, and then multiply our answer by 100.
In this case, the actual change in value or difference in price can be calculated by subtracting 164 dollars 73 cents from 195 dollars. This gives us 30 dollars and 27 cents. The original value or price before the discount was 195 dollars.
Substituting these two values into the equation or formula allows us to calculate the percentage change, 30.27 divided by 195 multiplied by 100. This gives us a percentage change of 15.523, which gives us an answer of 16 percent when we round to the nearest percent.
Therefore the percentage discount in the sale is 16 percent. If a bicycle has dropped in value from 195 dollars to 164 dollars and 73 cents, it has decreased by 16 percent.