Answer:
7.4%
Step-by-step explanation:
The cost decreased by 3.40 - 3.15 = 0.25
The percentage decrease can be found by using the formula shown below:
Percentage Decrease = [tex]\frac{New-Old}{Old}*100[/tex]
Where
"New" is the newest, latest price (3.15)
"Old" is the first price (3.40)
Now we find it:
[tex]\frac{3.15-3.40}{3.40}*100\\=\frac{-0.25}{3.40}*100\\=0.0735*100\\=7.35[/tex]
So percentage decrease is 7.4% (rounded to nearest tenth)
